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Level 2
June 3, 2019
Question

I am self employed with 60 K net income. Turbo tax calculates my self employed 401K at 14 K which is very low. What is correct method to get appropriate calculation?

  • June 3, 2019
  • 6 replies
  • 15 views

answers missed the mark this is for 2018 return.

6 replies

MichaelL1
Level 15
June 3, 2019

Here is a calculator   https://scs.fidelity.com/products/mobile/sepMobile.shtml

Do you have a job with a 401K contribution already?
vossmar1Author
Level 2
June 3, 2019
I used the Fidelity numbers but TT said I was over contributed and did not give tax benefit