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yidavid62
New Member

already paid $7500 in SEP FOR MY CAPITAL GAIN,how to deduct from my payment now/

 
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MaxA1
Expert Alumni

already paid $7500 in SEP FOR MY CAPITAL GAIN,how to deduct from my payment now/

See the following steps to enter your IRA contributions:

 

  1. Go to Deductions & Credits
  2. Go to Retirement and Investments
  3. Start the Traditional and Roth IRA Contributions section.
  4. Follow the prompts to enter your contributions.

See the following link for more help on this:

If you're referring to a Self-Employed Pension (SEP) contribution, you will need to have self-employed income in order to contribute to a SEP account.  The following link gives more information about SEP contributions:

 

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already paid $7500 in SEP FOR MY CAPITAL GAIN,how to deduct from my payment now/

Or did you make an estimated payment in September?

 

To enter Federal or State Estimated Taxes Paid, including a state estimated payment made in January 2025 (for 2024) go to

Federal on left or at top (Personal for Home & Business)

Deductions and Credits

Then scroll way down to Estimates and Other Taxes Paid

Estimated Taxes - click the start button

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