I tried to enter 25% for SEP and Turbo H&B won't allow any contributions. I haven't entered any other retirement data, yet, so I don't know why it won't allow a SEP contribution.
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You should be able to deduct the SEP IRA in this instance, but the maximum contribution is approximately 18.59% of your net self-employment income.
You should be able to deduct the SEP IRA in this instance, but the maximum contribution is approximately 18.59% of your net self-employment income.
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