You only need to enter SEP IRA contributions made through self-employment work. 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. TurboTax instructions are here.
To enter the estimated taxes you paid to the US Treasury, follow these instructions. @Superdoc
Contributions are made to an IRA set up for each plan participant and cannot exceed the lesser of:
- 25% of compensation paid during the year
- $57,000 for 2020 ($56,000 for 2019)
Investment, distribution, and rollover rules are the same as traditional IRAs. End of Year Retirement Tips for Employees and the Self-Employed
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