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If you are a Schedule C filer (a sole proprietor) and have a SIMPLE IRA plan, you are treated as both an employer and an employee when calculating and reporting your own plan contributions and limits. Here are some tips.
Where do I report the contributions I make for myself to my SIMPLE IRA?
Report both your salary reduction contributions and employer contributions (non-elective or matching) for yourself on line 28 of Form 1040.
This is different from reporting employer contributions (non-elective or matching) for your common-law employees, which you would do as a business expense on your Schedule C.
