- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
@kmfissel When you changed the amount of your SEP contribution, it may have changed the amount of your Net Income, and also changed the amount of your Maximum Contribution.
As Critter-3 says above, download and view your return with worksheets, and review your Schedule C Worksheet.
SEP IRA contributions allow for the lesser of either 25% of your compensation or $56,000 for 2019 ($57,000 in 2020).
Click this link for more info on SEP IRAs.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 4, 2021
1:49 PM