How to enter SEP contribution on the schedule C?

[ColeenD3]

You only need to enter SEP IRA contributions made through self-employment work. If your employer made a SEP IRA contribution for you, then you don’t need to enter it in your return. (While you could contribute more to an employer-sponsored SEP IRA, TurboTax doesn’t support these contributions.)

Before you enter your SEP IRA contributions, first make sure you've entered self-employed income. This allows us to calculate the maximum amount you're allowed to contribute to your SEP IRA.

Once your self-employment income is entered:

1. In your return, type SEP IRA contributions (use the whole phrase) in the Search box.
2. Select the Jump to link at the top of the search results.
3. This will take you to the Self-Employed Retirement Plans screen.
   • If you get a message that Self-Employed Retirement Plans are only for self-employed individuals, this means that you haven't entered any self-employed income.
4. TurboTax will ask you whether you contributed to different types of retirement plans. Select Yes to Keogh, SEP, and SIMPLE Contributions.
5. Continue answering the interview questions until you get to the Your Contributions screen, where you’ll be able to input your SEP IRA contributions.

[bradleypinkerton]

Your instructions are not working for 2023 and I'm super frustrated with turbotax!

[LeticiaF1]

Here are the 2023 updated instructions:

Make sure that you have entered your self employment income before you enter your SEP IRA contributions so that the program can calculate what your contribution limit is.  

To enter the contribution:

1. Sign in to your TurboTax account.
2. Open your return.
3. Select Search and enter SEP IRA contributions (use this exact phrase, including the s on contributions).
4. Select the Jump to link in the search results.
5. On the Self-Employed Retirement Plans screen, answer Yes to Did you make a 2023 self-employed retirement plan contribution?
6. Depending on if you contributed, select Yes or No to the question Did you contribute to an Individual or Roth 401(k) plan?
   • If you get the message Self-Employed Retirement Plans are only for self-employed individuals (i.e., those filing Schedules, C, F, or K-1), this means that you haven't entered your self-employed income yet. Once you've entered your income, you can come back to these instructions.
7. On the next screen, select Yes to Do you want to make a contribution to a Keogh, SEP or SIMPLE retirement plan for 2023?
8. Answer any additional questions until you get to the Your Contributions screen, where you’ll be able to input your SEP IRA contributions.

@bradleypinkerton