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donpintor
New Member

I am NOT self-employed, but I have a SEP IRA. How do I enter this tax info?

If I file as a traditional IRA, I am penalized, which isn't right because it's a SEP IRA. If I try to jump to the SEP accounts section, it assumes I am self-employed and wants to charge me for TT self-employed edition, but I'm not self-employed, so this isn't the right option.

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1 Reply
dmertz
Level 15

I am NOT self-employed, but I have a SEP IRA. How do I enter this tax info?

Contributions to your SEP-IRA are employer contributions.  Unless you have net profit from self-employment you cannot make a SEP contribution yourself.  Any SEP-IRA contribution made by an employer other than you as self-employed is not reported anywhere on your personal tax return; it's a deduction on your employer's tax return, not yours.

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