Yes, you must finish all of the Wage and self-employment entries for TurboTax to be able to accurately calculate your maximum permissible SEP-IRA contribution.
Your maximum permissible SEP-IRA contribution is 20% of your net earnings from self-employment. Your net earnings from self-employment are your net profit from self-employment minus the deductible portion of your self-employment taxes (Form 1040 line 27). Under some circumstances, the deducible portion of your self-employment taxes can depend on the amount of Social Security wages shown in box 3 of your W-2 from your W-2 job.
In TurboTax Self-Employed, go here:
