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Re: Why is TT calculating a lower contribution limit than what is reported on our 1099-NEC? TT is subtracting self-employment tax to reach a lower IRA contribution limit.
dmertz
Level 15
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Retirement tax questions
SE tax on $1,049 is $148, so the maximum contribution is indeed $1049 - $74 = $975.
March 22, 2025
5:25 PM
