SEP Contribution

Taxpayer is over 70 1/2 in 2019. Taxpayer took an RMD in 2019. Taxpayer has income from her business and Turbo Tax is allowing taxpayer to make a deductible SEP contribution. For traditional IRAs, any contribution by taxpayer, if possible would have been nondeductible. What is the correct answer.

posted

The correct answer to what question? You didn't ask one.

Self-employed SEP contributions are entered in the Business section of TurboTax and will appear on Schedule 1 as a self-employed retirement deduction. Do not enter SEP contributions under Deductions & Credits.