This article will show you how to enter contributions to Keogh, SEP, and Simple Plans in ProSeries Basic and ProSeries Professional.
Follow these steps to enter a Keogh, SEP, or Simple contribution:
- Open the client return.
- Open the Keogh/SEP/SIMPLE Contribution Worksheet.
- Enter the amount of the contribution on the line for the relevant plan.
The total maximum deduction will be calculated on Part V of the Keogh/SEP/SIMPLE Contribution Worksheet, and then the deduction will flow to Schedule 1, line 15.