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New Member
posted Jun 4, 2019 6:26:03 PM

I made the maximum SEP contribution (employer) and want to make the maximum Roth contribution. Turbotax is telling me that I can only make one or the other. Why?

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Level 6
Jun 4, 2019 6:26:04 PM

You can do both.  The employer SEP contribution is entered under the business section.  Your Roth is entered under the personal section.  If you inadvertantly entered both in the business section, TurboTax will correctly say it cannot be done.

Your individual Roth IRA contribution gets entered under Deductions & Credits >> Retirement and Investments >> Traditional and Roth IRA Contributions.

1 Replies
Level 6
Jun 4, 2019 6:26:04 PM

You can do both.  The employer SEP contribution is entered under the business section.  Your Roth is entered under the personal section.  If you inadvertantly entered both in the business section, TurboTax will correctly say it cannot be done.

Your individual Roth IRA contribution gets entered under Deductions & Credits >> Retirement and Investments >> Traditional and Roth IRA Contributions.