Please go back through the section under Less Common Business Situations for entering your retirement plan;
1. On the First Screen it will ask if you had a Keogh, SEP or SIMPLE contribution, Select YES
2. On the next screen choose yourself (if it is your business and contribution) and select CONTINUE
3. On the next screen, (Your Contributions), you should put a 0 in the SEP Box if you want it to calculate the contribution without regard to any contribution you have made, and check the Maximize Box.
4. On the next screen, Adjusting Self-Employment Income, you should also have -0- in this field, if your $5000 net income is correctly reflected on your Schedule C already.
5. The last screen will indicate only the Maximum Allowed Contribution to your plan. You will need to choose the BACK button until you get back to the screen referenced in # 3 above and fill in the amount you will be making.
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