Thank you. It's either 25% of w-2 wages or $58K, whichever is less. Right? The salary he pays himself from the S-Corp is low so that 25% of of w-2 wages is not much.
I don't think there is an arrangement since the SEP contributions don't come out of his paycheck. I tried to enter SEP contributions on our personal return in Turbo tax, but it didn't seem to work. I've read that Turbo Tax doesn't give you that option if there isn't a Schedule C. Do you know if that's the case? He has no Schedule C because he's an S-Corp.
I appreciate your help.
