topic Self-employed retirement contributions in Retirement tax questions

Self-employed retirement contributions

mikeflorio — Sun, 23 Mar 2025 05:32:42 GMT

I am working on my 2024 return and am self-employed. I originally entered a contribution to a Traditional SEP, but then I learned that my investment account is actually an Individual 401k. When I tried to change the entries in Turbo Tax it won't allow me to eliminate the SEP contribution and if I add the 401k it show double the amount that I intend to contribute. How can I remove the SEP contribution and only claim the 401k?

Re: Self-employed retirement contributions

dmertz — Sun, 23 Mar 2025 13:05:29 GMT

To eliminate the SEP-contribution entry you must either tell TurboTax that you made a SEP contribution and explicitly delete the amount entered or unmark the Maximize box, or you must delete the Keogh, SEP and SIMPLE Contribution Worksheet and begin the self-employed retirement section again.

Re: Self-employed retirement contributions

mikeflorio — Tue, 25 Mar 2025 21:03:26 GMT

The first step that you suggested simply does not work! How do I access the Worksheet in order to delete it?

Re: Self-employed retirement contributions

RobertB4444 — Tue, 25 Mar 2025 23:02:47 GMT

Here's how to view and delete forms in TurboTax online.

If you're using the desktop program just switch to forms view.

@mikeflorio

Re: Self-employed retirement contributions

mikeflorio — Wed, 26 Mar 2025 21:00:08 GMT

That solved my problem -- thank you very much! Mike Florio