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.

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1 Best answer

Level 15

Apr 15, 2020 4:53:06 AM

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.

Level 15

Apr 15, 2020 4:53:06 AM

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.

Returning Member

Mar 15, 2021 3:08:29 PM

Thanks