dmertz
Level 15

Retirement tax questions

Did you perhaps also mark the maximize box for an individual 401(k)?  If you were under age 50 in 2016, a maximum individual 401(k) contribution on about $44k of net profit would result in 60% going to the 401(k).  If you were over age 50 in 2016, $58k of net profit would result in 60% going to the 401(k).

You might do best to delete your Keogh/SEP Wks and remark the SEP Maximize box.  To delete the form, in online TurboTax click My Account -> Tools -> Delete a form, then click the Delete link next to Keogh/SEP Wks.