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What does "Enter the amount, if any, attributable to this trade or business only" mean as the follow-up item to the total SEP IRA contribution amount I have entered?
TT is asking me to check this entry. I entered my SEP IRA contribution correctly and it appears in the line "Total from the Keogh, SEP and SIMPLE Contribution Worksheet for the owner of this trade or business". But TT is asking me to make an entry to "Enter the amount, if any, attributable to this trade or business only." At the top of the screen it says "Keogh SEP contribution must be entered, with a box for me to enter "Keogh SEP contribution". I'm confused because the box at the top of this Check Entry screen is different from the highlighted box in the form itself. What should I be entering here? Self employed with no employees. Do I enter the full contribution as attributable to this trade or business only?
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‎April 7, 2021
1:10 PM