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Turbotax is not deducting my simple ira voluntary payments shown in box 13 on my K-1 with code R. How do I fix this, or report it as a bug?

 
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Accepted Solutions
dmertz
Level 15

Turbotax is not deducting my simple ira voluntary payments shown in box 13 on my K-1 with code R. How do I fix this, or report it as a bug?

When entering the Schedule K-1 (Form 1065), TurboTax will prompt you to allocate the contribution as to the particular type of self-employed retirement contribution.  Your Schedule K-1 must also show with code A in box 14 an amount of self-employment earnings necessary to support the contribution.  Also, in the personal-information section make sure that you have entered your Social Security Number.

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1 Reply
dmertz
Level 15

Turbotax is not deducting my simple ira voluntary payments shown in box 13 on my K-1 with code R. How do I fix this, or report it as a bug?

When entering the Schedule K-1 (Form 1065), TurboTax will prompt you to allocate the contribution as to the particular type of self-employed retirement contribution.  Your Schedule K-1 must also show with code A in box 14 an amount of self-employment earnings necessary to support the contribution.  Also, in the personal-information section make sure that you have entered your Social Security Number.

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