AliciaP1
Expert Alumni

Self employed

There may be an issue with how the Your Retirement Contributions screen is showing the calculation.  To verify your SEP entry is maximized and deducted correctly you can review your Schedule 1 for your Form 1040 in either TurboTax Online or TurboTax CD/Download versions.

 

To do this in TurboTax Online you can follow these steps:

  1. Within your return, click on Tax Tools on the black menu on the left side of the screen.
  2. Click on Tools.
  3. Click on View Tax Summary
  4. Click on Preview my 1040 in the black menu bar on the left.
  5. Scroll down to Schedule 1 Part II and look on line 16.

To do this in TurboTax Desktop you can follow these steps:

  1. Within your return, click on the Forms icon in the upper right of the screen to switch to Forms mode.
  2. In the menu bar on the left select Schedule 1.
  3. Scroll through in the preview window and review line 16.

@dandyandy357 

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