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New Member
posted Jun 6, 2019 4:53:21 AM

I am self employed. What is the maximum amount I can contribute to my SEP-IRA

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1 Best answer
Expert Alumni
Jun 6, 2019 4:53:24 AM

As a self-employed person, for 2016 you can contribute no more than the lesser of:

  • 20% of your self-employment income
  • $53,000

3 Replies
New Member
Jun 6, 2019 4:53:22 AM

where can I enter the ira contribution for 2016 as a self-employed?

Expert Alumni
Jun 6, 2019 4:53:24 AM

As a self-employed person, for 2016 you can contribute no more than the lesser of:

  • 20% of your self-employment income
  • $53,000

Level 15
Jun 6, 2019 4:53:27 AM

For this calculation, your "self-employment income" is your net profit from self-employment minus the deductible portion of your self-employment taxes.