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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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‎February 22, 2022
2:55 PM