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bevnbarry
New Member

I am self-employed and receive a K-1. Where do I enter my Simple IRA contributions made between Jan 1, 2017 and April 15, 2017 for tax year 2016?

 
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IreneS
Intuit Alumni

I am self-employed and receive a K-1. Where do I enter my Simple IRA contributions made between Jan 1, 2017 and April 15, 2017 for tax year 2016?

 

To enter SIMPLE IRA contributions for your employees, please follow these steps:

  • When you are in your return, type simple ira contributions in the Find box at the top right of your screen.
    OR
  1. Click on Federal Taxes > Wages & Income > I’ll choose what I work on
  2. In the Business Items section, click on the Start/Update box next to Business Deductions and Credits. 
  3. On the Business Deductions and Credits screen, click on the Start/Update box next to Self-employed retirement plans.  
  4. On the Self-Employed Retirement Plans screen, click the No box (for individual or Roth 401k plans).
  5. On the next screen, Keogh, SEP and SIMPLE Contributions, click the Yes box.
  6. Continue through the screens.  You will be asked to enter your contributions as well as the matching contributions.

[Edited | 4/9/2020 |  10:27am PDT]

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1 Reply
IreneS
Intuit Alumni

I am self-employed and receive a K-1. Where do I enter my Simple IRA contributions made between Jan 1, 2017 and April 15, 2017 for tax year 2016?

 

To enter SIMPLE IRA contributions for your employees, please follow these steps:

  • When you are in your return, type simple ira contributions in the Find box at the top right of your screen.
    OR
  1. Click on Federal Taxes > Wages & Income > I’ll choose what I work on
  2. In the Business Items section, click on the Start/Update box next to Business Deductions and Credits. 
  3. On the Business Deductions and Credits screen, click on the Start/Update box next to Self-employed retirement plans.  
  4. On the Self-Employed Retirement Plans screen, click the No box (for individual or Roth 401k plans).
  5. On the next screen, Keogh, SEP and SIMPLE Contributions, click the Yes box.
  6. Continue through the screens.  You will be asked to enter your contributions as well as the matching contributions.

[Edited | 4/9/2020 |  10:27am PDT]

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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