If I am self employed and open an IRA, do I put the contribution under both the business and the personal sections in Turbotax?

[dmertz · Accepted solution]

The answer depends on the type of IRA contribution you are making.  If you establish a SEP plan for your business and make contributions to SEP-IRA, those would be entered in the Business section as a self-employed retirement plan.  Similarly, if you have a SIMPLE IRA plan and make contributions to the SIMPLE IRA, this is also a self-employed retirement plan.  However, if your IRA contribution is a regular personal IRA contribution, it goes in the Personal section.  No contribution goes in both sections.

[MinhT]

You enter your IRA contribution in the personal section only.