Retirement tax questions

You entered it in the correct section.  For Schedule C filers, the SEP deduction does not change business income since it is not an allowable deduction prior to calculating self-employment tax.  It is reported on Form 1040 Schedule 1 line 16 and is deducted as an adjustment to income.

To verify your SEP is reported correctly you can review your 1040 in TurboTax Online by following these steps:

1. Within your return, click on Tax Tools in the black menu on the left side of the screen.
2. Click on Tools.
3. Click View Tax Summary
4. Click Preview My 1040 in the black menu bar on the left
5. Scroll down to Schedule 1, Part II, line 16 to see your SEP deduction

To review in TurboTax CD/Download you can follow these steps:

1. Within your return, click on the Forms icon in the upper right of the screen to switch to Forms mode.
2. Scroll down in the menu bar on the left and select Schedule 1
3. In the preview screen, scroll down to Part II, line 16 to see your SEP deduction