How to remove the calculated contribution for self-employment SEP, simple or other qualified retirement account from my return

TT automatically calculated the allowable contribution if I want to open a SEP or other business retirement account (in addition to my IRA). That calculated amount now appears as an adjustment to income.

I marked No to the question of whether I wanted to do this but the amount still shows, which affects my return totals.
How can I remove this if I don't invest in another self employment retirement account for 2023?
Thanks for your help!

3810

1 Best answer

Level 15

Mar 20, 2024 8:33:14 AM

To delete your self-employment SEP information in TurboTax Desktop:

Select BUSINESS in the banner and select Continue
On the How do you want to enter your business income? screen, select I'll choose what I work on
Scroll down and select Update to the right of Other Business Situations
Select Start or Revisit to the right of Self-employed retirement
Select Yes on the Self-Employed Retirement Plans screen
Select Continue on the Individual or Roth 401(k) Plans page
Select Yes on the Keogh, Traditional SEP, Roth SEP, Traditional SIMPLE, and Roth SIMPLE Contributions screen
Select Continue on the Traditional SEP, Roth SEP, Traditional SIMPLE, and Roth SIMPLE Plans screen
Remove any information on the [Your] Contributions screen, then select Continue

Level 15

Mar 20, 2024 8:33:14 AM

To delete your self-employment SEP information in TurboTax Desktop:

Select BUSINESS in the banner and select Continue
On the How do you want to enter your business income? screen, select I'll choose what I work on
Scroll down and select Update to the right of Other Business Situations
Select Start or Revisit to the right of Self-employed retirement
Select Yes on the Self-Employed Retirement Plans screen
Select Continue on the Individual or Roth 401(k) Plans page
Select Yes on the Keogh, Traditional SEP, Roth SEP, Traditional SIMPLE, and Roth SIMPLE Contributions screen
Select Continue on the Traditional SEP, Roth SEP, Traditional SIMPLE, and Roth SIMPLE Plans screen
Remove any information on the [Your] Contributions screen, then select Continue

Level 2

Mar 21, 2024 2:40:37 PM

Thank you, John, for the super fast and spot on advice!
I was able to find where the amount was automatically added and change it to 0.

Surpisingly this contribution removal did not affect the results for my Federal return, only my state return.

Why sign in to the Community?

How to remove the calculated contribution for self-employment SEP, simple or other qualified retirement account from my return