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Skoll
New Member

I’m trying to enter SEP IRA contributions but TurboTax takes me to the traditional IRA contribution which I have already maxed with my employers 401k.

 
1 Best answer

Accepted Solutions
dmertz
Level 15

I’m trying to enter SEP IRA contributions but TurboTax takes me to the traditional IRA contribution which I have already maxed with my employers 401k.

Neither SEP contributions nor the contributions you make to your employer's 401(k) are to be entered anywhere under Deductions & Credits.

 

Search for "self-employed retirement" to find the Business section where you enter SEP contributions.

 

Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.

View solution in original post

2 Replies
dmertz
Level 15

I’m trying to enter SEP IRA contributions but TurboTax takes me to the traditional IRA contribution which I have already maxed with my employers 401k.

Neither SEP contributions nor the contributions you make to your employer's 401(k) are to be entered anywhere under Deductions & Credits.

 

Search for "self-employed retirement" to find the Business section where you enter SEP contributions.

 

Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.

abj93
Returning Member

I’m trying to enter SEP IRA contributions but TurboTax takes me to the traditional IRA contribution which I have already maxed with my employers 401k.

Thanks

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