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Self employed - Entered SEP-IRA contribution in the Business area of T.T. Now in Personal it's asking if I contributed to an IRA - should I enter the contribution again?

  • Made only one contribution in 2018, to my SEP-IRA
  • I classified the contribution as an "employer" contribution if it matters, though I did not have a specific reason for that.
  • In the "Personal" section, Turbotax only lists Traditional and Roth IRA as options

So in this situation should I enter my SEP-IRA contribution when it asks under both business and personal? Or only under business?

(It's not clear if entering it in both spots will cause my one SEP-IRA contribution to be incorrectly counted twice?)

Thanks!

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1 Reply
JessicaB1
Intuit Alumni

Self employed - Entered SEP-IRA contribution in the Business area of T.T. Now in Personal it's asking if I contributed to an IRA - should I enter the contribution again?

Thanks for using TurboTax. No, you should not re-enter your SEP-IRA in the Personal section. You handled it correctly and should not double enter. Thanks for reaching out and happy tax day.

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