I am self employed. What is the maximum amount I can contribute to my SEP-IRA
031451
1 Best answer
MinhT
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
wosilauda
New Member
Jun 6, 2019 4:53:22 AM
where can I enter the ira contribution for 2016 as a self-employed?
MinhT
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
dmertz
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.