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Does a sep contribution flow thru to form 8880?

does a sep contribuition for a self employed individual flow thru to form 8880 like a traditional  ira contrition for the credit?

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2 Replies
IreneS
Intuit Alumni

Does a sep contribution flow thru to form 8880?

No -  A SEP contribution does not appear on Form 8880.  Contributions that may qualify for the credit calculated on Form 8880 will appear in Box 12 of Form W-2.

A contribution to your SEP will appear on line 28 of Schedule 1 of the 1040.

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dmertz
Level 15

Does a sep contribution flow thru to form 8880?

Of course if you only have income from self-employment you won't have a W-2.  In addition to employee elective deferral and voluntary employee contributions making you eligible for the credit, regular personal contributions to a traditional or Roth IRA qualify for the credit.  However, since SEP contributions are employer contributions, they don't qualify (except for employee elective deferrals to a SARSEP established before 1997).

You might want to consider making a contribution to a traditional or Roth IRA if you otherwise qualify for this tax credit.
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