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, 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 your return
- Search SEP IRA contributions
- Select the Jump to link in the search results
- In the Self-Employed Retirement Plans screen, select 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 (i.e., those filing Schedules, C, F, or K-1), 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
- In the Keogh, SEP, and SIMPLE Contributions screen, select Yes
- Answer any additional 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.
