Thank you! TurboTax has always taken my Schedule C income and subtracted 1/2 of my self employment tax to get the base for calculating my max SEP IRA contribution @ 20%. I recently saw on ChatGPT that you also need to subtract your deductible SEHI premiums from the Schedule C income to get the SEP IRA base. That didn’t seem right to me and it’s not the way TurboTax does it.
