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The SEP IRA limit for 2017 is $54,000, but TurboTax is telling me that the limit is $53,000. Is this just a bug in the current update?
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posted
June 4, 2019
4:19 PM
last updated
June 04, 2019
4:19 PM


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The SEP IRA limit for 2017 is $54,000, but TurboTax is telling me that the limit is $53,000. Is this just a bug in the current update?
Yes, this is the result of calculations on lines 1 and 2 of Part V of the Keogh, SEP and SIMPLE Contributions Worksheet that have not yet been updated for 2017. This has been reported and a fix is apparently in work.
June 4, 2019
4:19 PM
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The SEP IRA limit for 2017 is $54,000, but TurboTax is telling me that the limit is $53,000. Is this just a bug in the current update?
The annual limit and the amount you are allowed to contribute may be different due to the income you are reporting.
June 4, 2019
4:19 PM
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The SEP IRA limit for 2017 is $54,000, but TurboTax is telling me that the limit is $53,000. Is this just a bug in the current update?
To see if that is true, I tried increasing my Schedule C income up to $1,000,000 just for fun. It still claims that $53,000 is the maximum.
June 4, 2019
4:19 PM
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The SEP IRA limit for 2017 is $54,000, but TurboTax is telling me that the limit is $53,000. Is this just a bug in the current update?
Yes, this is the result of calculations on lines 1 and 2 of Part V of the Keogh, SEP and SIMPLE Contributions Worksheet that have not yet been updated for 2017. This has been reported and a fix is apparently in work.
June 4, 2019
4:19 PM
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The SEP IRA limit for 2017 is $54,000, but TurboTax is telling me that the limit is $53,000. Is this just a bug in the current update?
Today's release (R7) corrects the problem.
June 4, 2019
4:19 PM
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