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Calculating SEP Contributions

The Gonz
Level 2

I have a client showing w-2 income of $70,000 and k-1 business income of $247,771. Why doesn't my ProSeries calculate the maximum SEP contribution for this return? Am I forgetting something?

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4 Replies 4
TaxGuyBill
Level 14

What kind of K-1?

If it is from a Partnership, what is in Box 14?

 

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dkh
Level 11

Isn't the SEP done thru entity that issued K1 ?

Accountant-Man
Level 11

There is no income here eligible for a SEP.

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qbteachmt
Level 15

Okay, my turn...

Is the W2 from being an employee for the same entity as the K-1, as shareholder-employee?

Have we used up our 20 questions?

More details always help.

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