Where in the "step by step" can one calculate and then enter the maximum allowable SEP-IRA contribution in Turbotax Home and Business 2023 (download)?

[TAXRETURNSFILER]

Note: the answer provided elsewhere does not seem to work with the home and business download:  https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-sep-ira-contri...

[AnnetteB6 · Accepted solution]

Using TurboTax Home and Business:  

• Go to the Business tab at the top of the screen, click Continue and then I'll choose what I work on
• Scroll down to Less Common Business Situations
• Click Start or Update beside Self-employed Retirement to get started

[TAXRETURNSFILER]

Thanks so much! I tried what you  suggested and it worked perfectly. One follow-up question: After calculating and entering the maximum amount allowable for a traditional SEP-IRA, how can one reduce the contribution later? I tried but the "step by step" would not let me back into the traditional SEP-IRA section anymore. The only way I found I could do it  was to go into the corresponding "form" and do a manual override.  Is there a way to get back into the traditional SEP-IRA question in the step-by step? Thanks again. 

[TomK2023]

Have you tried...

Enter SEP IRA Contribution:

1. Open your return.
2. Enter sep ira contributions in the Search box.
3. Click on jump to sep ira contributions link.
4. Proceed thru the interview screens.

Or Business tab > Business Income and Expenses > I'll choose what I work on > Less Common Business Solutions > Self-employed Retirement > Update 

@TAXRETURNSFILER 

[Edited 3/18/24 | 3:59pm PST]

[TAXRETURNSFILER]

Thanks so much! I tried what you  suggested and it worked perfectly. One follow-up question: After calculating and entering the maximum amount allowable for a traditional SEP-IRA, how can one reduce the contribution later? I tried but the "step by step" would not let me back into the traditional SEP-IRA section anymore. The only way I found I could do it  was to go into the corresponding "form" and do a manual override.  Is there a way to get back into the traditional SEP-IRA question in the step-by step? Thanks again.