I am working on my 2024 return and am self-employed. I originally entered a contribution to a Traditional SEP, but then I learned that my investment account is actually an Individual 401k. When I tried to change the entries in Turbo Tax it won't allow me to eliminate the SEP contribution and if I add the 401k it show double the amount that I intend to contribute. How can I remove the SEP contribution and only claim the 401k?
To eliminate the SEP-contribution entry you must either tell TurboTax that you made a SEP contribution and explicitly delete the amount entered or unmark the Maximize box, or you must delete the Keogh, SEP and SIMPLE Contribution Worksheet and begin the self-employed retirement section again.
The first step that you suggested simply does not work! How do I access the Worksheet in order to delete it?
Here's how to view and delete forms in TurboTax online.
If you're using the desktop program just switch to forms view.