RobertB4444
Employee Tax Expert

Retirement tax questions

I liked the Katzenjammers.  But Li'l Abner was my jam.

 

The maximum SEP contribution is 25% of your net income from self-employment.  You said that the contribution was several thousand dollars more than the net income from your schedule C.  That means that the program thinks that something else is self-employment income and is taking it into account when figuring the contribution.  You need to figure out what else has been entered as self-employment income and correct it.

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