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I filed my SEP IRA as a traditional IRA in 2016. How do I amend my 2016 return so I can file 2017 correctly?

I need to correct IRA filing in 2016 

I filed as a traditional IRA and I have a SEP

TurboTax automatically adds $ in 2017 for my contributions but I need them added in the right place.

Not sure how to amend for something like this....

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1 Reply
AmandaR1
New Member

I filed my SEP IRA as a traditional IRA in 2016. How do I amend my 2016 return so I can file 2017 correctly?

For how to amend 2016, make selections for the type of software you used and follow the results (linked below). 

If you filed a traditional IRA, you can delete your contribution under: 

Deductions & Credits  >>>  I'll choose what I work on >>>  Scroll down to the  Retirement and Investments  section >>> Click  Update/Edit  next to  Traditional and Roth IRA Contributions  >>> the box should be checked for the Traditional IRA and you can  uncheck  it >>> the next screen  will ask if you want to delete your entry and you can say  yes.

To enter your SEP contributions, head into:

Business  tab and click  Continue   >>>  I'll choose what I work on >>>  Scroll down to the  Less Common Business Situations  section >>> Click  Update  next to  Self-employed Retirement >>> Next, answer  Yes  and enter your pre-tax payroll contributions under Elective Deferrals and the other categories as applicable.  

https://ttlc.intuit.com/questions/4381417

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