You only need to enter SEP IRA contributions made through self-employment work. If your employer made a SEP IRA contribution for you, then you don’t need to enter it in your return. (While you could contribute more to an employer-sponsored SEP IRA, TurboTax doesn’t support these contributions.)
Note: Before you enter your SEP IRA contributions, first make sure you've entered your self-employed income. This allows us to calculate the maximum amount you're allowed to contribute to your SEP IRA.
Once your self-employment income is entered:
- Sign in to your TurboTax account
- Open or continue to your return
- In the search bar type SEP IRA contributions (make sure to use this exact phrase)
- Select the Jump to link in the search results
- This will take you to the Self-Employed Retirement Plans screen
- Answer No to the question, Did you contribute to an Individual or Roth 401(k) plan?
- If you get the message Self-Employed Retirement Plans are only for self-employed individuals, this means that you haven't entered your self-employed income yet. Once you've entered your income, you can come back to these instructions
- On the next screen, answer Yes to Keogh, SEP, and SIMPLE Contributions
- Continue to answer the questions until you get to the Your Contributions screen, where you’ll be able to input your SEP IRA contributions
If you want to enter contributions to a Traditional or Roth IRA, follow these instructions.
If you want to enter IRA distributions reported on Form 1099-R, follow these instructions.
