In June 2020, I left employment as a statutory employee, where I made some income as W2 wages and some as 1099 income (I was a financial advisor/career agent for a mutual life insurance company). Up until that time, I had access to a 401k, where I made contributions. When I left, I became 100% self-employed, with no access to a 401k. I made $6,000 in SEP IRA contributions for the rest of 2020.
When I input this into Turbotax, it's saying my contribution is not deductible because my MAGI was too high. It seems to be treating the contribution as if it's going into a traditional IRA, not a SEP IRA. Is there a workaround to this, as I'm also planning to make some additional SEP IRA contributions this month that would also go towards 2020. Thanks for your guidance.
