Here's
how you enter your Self-Employed retirement contributions:
Open
your return (if not already there).
Click on
"Take me to my return" box if applicable.
Search
for "self employed 401k" in the Searchbox.
Click on
“Jump to self employed 401k” link in the search results.
This
will take you to the Self-Employed Retirement Plans screen.
TurboTax
will ask you about whether you contributed to different types of
retirement plans. Select Yes to Keogh, SEP, or
SIMPLE, Individual (401k), Roth 401(k) Contributions.
Proceed
through/answer the interview screens.
Please see screenshot
below.
ma53
New Member
Mar 28, 2020 11:26:07 AM
When you receive a 1099-Misc and you contribute to your SEP account outside of work, your contribution(s) should reduce, dollar for dollar, the taxable income shown on your 1099-misc.