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robertpaulaoakle
New Member

Why doesn't my sep ira contribution change the amount of my refund? I am trying to figure out how it will impact the refund but only the state portion changes?

 
2 Replies
macuser_22
Level 15

Why doesn't my sep ira contribution change the amount of my refund? I am trying to figure out how it will impact the refund but only the state portion changes?

Where did you enter it?    It is NOT an IRA contribution and does not get entered in the IRA contribution interview.   It is an employer plan either reported on W-2 box 12 or a self-employed plan in the schedule C section.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
robertpaulaoakle
New Member

Why doesn't my sep ira contribution change the amount of my refund? I am trying to figure out how it will impact the refund but only the state portion changes?

I tried entering it on schedule c but the federal refund amount doesn't change the state refund goes up a few hundred dollars (using 6k for contribution)

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