Retirement tax questions
If you're self-employed and setting up a Keogh for yourself as the sole participant, a fairly common choice is a defined contribution plan that includes both money-purchase and profit-sharing plans. There's other information on contributions to defined benefit plans. Since defined contribution plans are the most common setup for a Keogh you'd create for your own plan, that's what we are going to look at here -- a sole participant-defined contribution plan.
Log in and click Take me to my return
2. On the left menu, under 2022 Taxes, select the Federal
3. Select the Income & Expenses tab along the top. To get to the full listing of Income and Expenses you may be asked to, "select options that apply to you," click Continue and then Check for more tax breaks, then See a list of all tax breaks
4. Scroll down to the Other Business Situations section and click the blue hyperlink Show more
5. Click Start/Revisit next to Self-Employed Retirement Plans
6. Click Yes to KEOGH, SEP, SIMPLE Contributions
7. Next, answer the questions to enter your retirement. See the Screenshot below:
