I am self-employed with contributions made to Roth IRA. Do I list this as a Misc expense in my expenses category of my wages & income?

[VolvoGirl · Accepted solution]

You enter it under Deductions like a personal contribution.

Enter IRA contributions under

Federal On left

Deductions and Credits

Then scroll down to Retirement and Investments

Traditional and ROTH IRA Contributions - Click the Start or Update button

For an IRA contribution.  If you only have self-employment income you can only contribute up to your net profit reduced by the deduction allowed for one-half of your self-employment taxes then only up to the max IRA limit.

See IRS publication 590 http://www.irs.gov/pub/irs-pdf/p590a.pdf

So check 1040 Schedule 1 line 15.  You have to deduct that amount from your Schedule C Net Profit.  That will give you the allowed contribution for self employment & 1099NEC income.