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GayLouise
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How to I separately enter an employee salary deferral IRA contribution from an employer contribution as a self-employed person?

 
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dmertz
Level 15

How to I separately enter an employee salary deferral IRA contribution from an employer contribution as a self-employed person?

Since you are using TurboTax Self Employed, presumably you are a sole proprietor with net profit calculated on Schedule C or Schedule F.

You do not enter your elective deferrals separately.  The total of your employee elective deferrals and your employer contribution goes in the single box for SIMPLE contributions on the Your Contributions page in the self-employed retirement section.  TurboTax then places the deduction on Form 1040 line 28.

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3 Replies

How to I separately enter an employee salary deferral IRA contribution from an employer contribution as a self-employed person?

employee salary deferral as a self employed person?   Are you contributing money into a SEP IRA?
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
GayLouise
New Member

How to I separately enter an employee salary deferral IRA contribution from an employer contribution as a self-employed person?

a SIMPLE IRA   Don't know what SEP stands for
dmertz
Level 15

How to I separately enter an employee salary deferral IRA contribution from an employer contribution as a self-employed person?

Since you are using TurboTax Self Employed, presumably you are a sole proprietor with net profit calculated on Schedule C or Schedule F.

You do not enter your elective deferrals separately.  The total of your employee elective deferrals and your employer contribution goes in the single box for SIMPLE contributions on the Your Contributions page in the self-employed retirement section.  TurboTax then places the deduction on Form 1040 line 28.

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