You have the calculations a bit off ... it is NET SE but you also have to deduct the 1/2 SE tax deduction ... Tax treatment of excess contributions. Excess contributions are your contributions to an employee's SEP-IRA (or to your own SEP-IRA) for 2019 that exceed the lesser of the following amounts. • 25% of the employee's compensation (or, for you, 20% of your net earnings from self-employment). • $56,000. SO using your numbers : 44K - 10K = 34K x .153 = 5202 / 2 = 2601 34K - 2601 = 31399 x 20% = 6280 8500 - 6280 = 2220 the missing amount LOOK at the worksheet in the TT PDF file to see the exact calculation.
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To access your current or prior year online tax returns sign onto the TurboTax website with the userID you used to create the account - https://myturbotax.intuit.com/ Scroll down to the bottom of the screen and on the section Your tax returns & documents click on Show. Click on the Year and Click on Download/print return (PDF) To get a 2019 PDF with all the worksheets prior to 10/31/2020 … When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state. This will take you back to the 2019 online tax return. Click on Tax Tools on the left side of the online program screen. Then click on Print Center. Then click on Print, save or preview this year's return. Choose the option Include government and TurboTax worksheets
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