CR47
Level 1

I'm entering contributions to a self-employed SEP and 401k for the first time. I don't understand why I would "adjust" my self-employed income or when to do that.

The TurboTax page that comes up after I enter my contributions is titled "Adjusting Self-Employment Income". It says I can adjust my income. What's a valid reason to do that? Can I adjust it by the amount of the contribution?