dmertz
Level 15

Retirement tax questions

TurboTax's summary page for individual 401(k) contributions in step-by-step mode is gibberish.  Look at the Keogh, SEP and SIMPLE Contribution Worksheet to see the components of your contributions.  Use the SEP Maximize function for calculating your employer contribution and your maximum employer contribution will be the deductible amount minus the dollar amount of elective deferrals that you enter.