I have income from W2 and 1099 . Seems turbotax MAXIMIZE SEP IRA amount is wrong. For 123028$ it should be 22867, however it shows 23,529. Am I wrong?

[dmertz]

Do you also have W-2 income of about $67,000?  This would reduce the amount of self-employment taxes that you owe on your self-employment income and thereby increase the amount of your earnings from self-employment used to calculate the maximum SEP contribution.  See the calculations on TurboTax's Keogh, SEP and SIMPLE Contribution Worksheet.

[jdjdjdjd]

Yes, I do have that. Thanks for your answer and pointer.

[jdjdjdjd]

Where can I find the worksheet btw?

[dmertz]

With online TurboTax, to view this worksheet you would need to download the pdf containing all forms and worksheets.  Downloading this requires first paying for TurboTax.

The Keogh, SEP and SIMPLE Contribution Worksheet implements the Deduction Worksheet for Self-Employed from IRS Pub 560:  <a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/p560.pdf">https://www.irs.gov/pub/irs-pdf/p560.pdf</a>

[dmertz]

Answered in the comments.