topic SEP IRA Payments until October 15 - Extension in Retirement tax questions

SEP IRA Payments until October 15 - Extension

DebRedman108 — Tue, 01 Sep 2020 12:29:06 GMT

Hi there -

I filled out the form 4868 and paid all taxes before July 15, and filed electronically.

Now I'm going back to finish up and fund my SEP IRA (I'm self-employed, and can fund about $30K this year.)

Several problems: First, my previous SEP IRA contributions aren't showing.

Second, it doesn't seem like turbotax is recognizing that I can make additional SEP IRA contributions up until October 15, 2020.

Re: SEP IRA Payments until October 15 - Extension

Critter-3 — Tue, 01 Sep 2020 17:55:44 GMT

To enter your self-employed retirement contributions in TurboTax, log into your tax return (for TurboTax Online sign-in, click Here) and type "self-employed retirement" in the search bar then select "jump to self-employed retirement". TurboTax will guide you on entering this information.

Enter self-employed retirement in the Search box located in the upper right of the program screen. Click on Jump to self-employed retirement … TurboTax will guide you on entering this information.

Re: SEP IRA Payments until October 15 - Extension

Critter-3 — Tue, 01 Sep 2020 18:03:05 GMT

Switch to the FORMS mode to see the actual forms ...that should be on sch 1 line 16.

Re: SEP IRA Payments until October 15 - Extension

DebRedman108 — Thu, 03 Sep 2020 11:08:15 GMT

Thank you for your answer. My problem was that I had entered it, but it wasn't showing when I opened my draft taxes form, after about a 2-month hiatus. After a while, it seemed to show up. Weird.

It's just discomfiting that I don't clearly see that my e-file of my extension was "filed" - the extension form is filled out, though.

Re: SEP IRA Payments until October 15 - Extension

DebRedman108 — Thu, 03 Sep 2020 11:08:57 GMT

Thank you - yeah, it showed up and I saw it there. Thanks for your response!