Yes, you would enter your contribution in Schedule C of your return since it is a contribution to a defined benefit plan. How you enter this into your Turbo Tax Return depends on the type of Turbo Tax Product you are using.
If you are using Turbo Tax online Self-employed, here is how to enter:
- Go to the magnifying search button at the top right hand portion of the screen.
- Type in this exact phrase sep ira contributions
- select the link that says "jump to sep ira contributions"
- Say no to the question asking if you contributed to an individual or Roth IRA Plan
- Select yes at the next screen.
- Select and record your contribution in the Defined Benefit Keough plan box.
If using Turbo Tax Home and Business Software:
- Select the Business Tab in the software.
- In the screen that mentions let's Gather Your Business Information>scroll to Self-employed Retirement
- Follow the direction that is given in steps 4-6 listed above.
Let me know if this helps.
@alvisahib
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