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A
akmorecroft
April 12, 2025
Question

TurboTax has miscalculated my sep ira deposit allowance

  • April 12, 2025
  • 1 reply
  • 0 views
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    1 reply

    D
    dmertz
    April 12, 2025

    Your assertion is likely untrue unless you have made an entry error.  In what way do you believe that TurboTax has miscalculated?

     

    Be aware that the SEP contribution is not permitted to exceed 20% of net earnings.  Net earnings are net profit  minus the deductible portion of self-employment taxes.

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