Where does one enter contributions to a defined benefit plan?

Forum|Forum|7 years ago
June 1, 2019
10 replies
84 views

It's not a 401k plan

TurboTax Free Edition Online

Best answer by

1. Login and click Take me to my return

2. On the left menu, under 2017 Taxes, select the Federal

3. Select the Income & Expenses tab along the top. To get to the full listing of Income and Expenses you may be asked to, "select options that apply to you," click Continue and then Check for more tax breaks, then See list of all tax breaks

4. Scroll down to the Other Business Situations section and click the blue hyperlink Show more

5. Click Start/Revisit next to Self-Employed Retirement Plans

6. Next, answer the questions to enter your retirement.

Please feel free to post any additional details or questions in the comment section.

Anonymous

Are you Self-Employed?

frolapal1Author

Level 2

I am and I set up a defined benefit plan through a third-party administrator

Anonymous

Excellent. Let me know if you need anything else.

gruse

Level 2

The only defined benefit plan entry I see is "Defined Benefit Keogh" I don't think my defined benefit plan is a Keogh. Does it matter? Is it correct to enter it here?

Anonymous

Answer

1. Login and click Take me to my return

2. On the left menu, under 2017 Taxes, select the Federal

4. Scroll down to the Other Business Situations section and click the blue hyperlink Show more

5. Click Start/Revisit next to Self-Employed Retirement Plans

6. Next, answer the questions to enter your retirement.

Please feel free to post any additional details or questions in the comment section.

jnk

Level 2

This is not helpful. Defined benefit plans are not listed. The only ones listed are:Keogh,SEP, SIMPLE, and 401(k)s. None of these options is correct.

wesleygaschler

Level 2

For everyone above who didn't get an answer above, I believe that the defined benefit contribution goes under "Keogh Defined Benefit" under the self employed 401k section in turbotax as this populates on to Form 1040 Line 28 which per IRS notification this is the correct place to input this number.

https://www.irs.gov/retirement-plans/self-employed-individuals-calculating-your-own-retirement-plan-contribution-and-deduction