How do I determine my sep ira contribution as an independent contractor? I made more this year and TT is calculating my contribution considerably less. Why?
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Your deductible self-employed SEP-IRA contribution is the lesser of 25% of your net earnings from self-employment or $55,000 (in 2018), as adjusted by the special handling described in Publication 560 (https://www.irs.gov/publications/p560#en_US_2018_publink10008841).
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