Hi,
Thanks for looking at my question!
I've had a self-directed SEP-IRA, and Individual 401k, as well as my regular qualified plans. I am a consultant who works as a 1099 or at companies without retirement plans.
My tax accountant friends say that the IRS will still allow deductions if a have a W2 stating "retirement plan". I joined a consulting company in Sept 2019 and they now let me contribute to a 401k.
Using TurboTax, I expected there was a way to say "contribute to SEP/indiv 401k with retirement plan at new company" or something. But it won't allow that. It says IRS rules won't allow any SEP deductions even if I joint a retirement plan company on Dec 30th.
I had to file an extension, and deposit into my SEP account anyway, in case I missed the filing window.
Please clarify.
Thanks,
L
P.S. I used to use Self-Employed version last year, but I was looking at the Deluxe version when it said I couldn't do it. Will Self-Employed make it work?
