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Level 1

I'm an S Corp owner wanting to report a SEP IRA contribution. The "Self-Employed Retirement Plans" page's continue btn only returns me to summary. What am I missing?

 
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Level 20

I'm an S Corp owner wanting to report a SEP IRA contribution. The "Self-Employed Retirement Plans" page's continue btn only returns me to summary. What am I missing?

Except for the purpose of a self-employed health insurance deduction, you are not self-employed, you are an employee of your S-corp.  Unless you have a SARSEP plan established before 1997, SEP contributions are employer contributions only.  The contribution to your SEP IRA must be made by the S corp and is deductible on the S corp's tax return, not your individual tax return.  The maximum your S corp can contribute to your SEP IRA is 25% of your W-2 compensation.

Since you are not self-employed, you do not need to be using TurboTax Self Employed.  TurboTax Premier is sufficient.

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Level 20

I'm an S Corp owner wanting to report a SEP IRA contribution. The "Self-Employed Retirement Plans" page's continue btn only returns me to summary. What am I missing?

Except for the purpose of a self-employed health insurance deduction, you are not self-employed, you are an employee of your S-corp.  Unless you have a SARSEP plan established before 1997, SEP contributions are employer contributions only.  The contribution to your SEP IRA must be made by the S corp and is deductible on the S corp's tax return, not your individual tax return.  The maximum your S corp can contribute to your SEP IRA is 25% of your W-2 compensation.

Since you are not self-employed, you do not need to be using TurboTax Self Employed.  TurboTax Premier is sufficient.

Level 1

I'm an S Corp owner wanting to report a SEP IRA contribution. The "Self-Employed Retirement Plans" page's continue btn only returns me to summary. What am I missing?

Thanks, dmertz! That's the answer I was looking for. I get it now that I needed to claim the contribution on my company's corporate return 1120S instead of my individual 1040. Perhaps Turbo Tax could add the info in there in for folks who have added a K-1, but no Schedule C. Perhaps it's too much of a niche case. Also thanks for the tip about Self Employed vs Premier!
Level 20

I'm an S Corp owner wanting to report a SEP IRA contribution. The "Self-Employed Retirement Plans" page's continue btn only returns me to summary. What am I missing?

It's probably beyond the scope of tax return preparation software to provide instruction on the operating procedures of an S corp.