SIMPLE IRA contributions as business owner

[TH0004]

Where should a business owner enter IRA contributions made to a SIMPLE plan for a business they own?

Entering under traditional IRA for the full $16,500 triggers an alert that you have overfunded your IRA. This is incorrect since that is the limit, It is not subject to the $7000 traditional IRA limit. 

[dmertz · Accepted solution]

If you are self-employed (Schedule C or Schedule F), the deduction is claimed as some or all of the self-employed retirement deduction (Business Items -> Business Deductions & Credits).  If the business is some other type of entity, the deduction is claimed on the employers tax return.  Nothing about a SIMPLE IRA contribution is to be entered under Deductions & Credits.  Remove the $16,500 entry that you made there.