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April 14, 2024
Question

Re: I'm self-employed, SEP max limit is 25% of net earnings from self-employment. How is net earnings determined - net income, gross payments for services, or something else?

  • April 14, 2024
  • 1 reply
  • 0 views

So, how does TT calculate the maximum?

There is a checkbox for Maximize. When selected, it computes a value. Could someone shed some light into what numbers are considered from Schedule C?   20% of Net Profit is not quite matching.

Thank you.