You can't contribute to a SEP without self-employment income. @spencer00
You only need to enter SEP IRA contributions made through self-employment work. If your employer made a SEP IRA contribution for you, then you don’t need to enter it in your return. (While you could contribute more to an employer-sponsored SEP IRA, TurboTax doesn’t support these contributions.)
Before you enter your SEP IRA contributions, first make sure you've entered self-employed income. This allows us to calculate the maximum amount you're allowed to contribute to your SEP IRA.
The contributions you make to each employee's SEP-IRA each year cannot exceed the lesser of:
- 25% of compensation/SE income, or
- $58,000 for 2021 ($57,000 for 2020 and subject to annual cost-of-living adjustments for later years).
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