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svetlanaabel-yah
Level 1

How to add SEP IRA for self employed

 
1 Comment 1
Bryan_M
QuickBooks Team

How to add SEP IRA for self employed

The Community is thrilled to have you here, @svetlanaabel-yah.

 

Let me share info about SEP IRA contribution and how you can add it to QuickBooks Self-Employed (QBSE).

 

Firstly, the SEP IRA is reported from Form 1040 (long form) in line 28 and not on Schedule C, which means the option to categorize it in QBSE is unavailable.

 

To add it, you need to manually mark it as a personal expense, and need to be accounted for when filing the form 1040. However, I recommend consulting your accountant for assistance with the process of setting up everything correctly.

 

You might want to learn what we updated with the expense categories. Feel free to read this article: Updates to Expense Categories in QuickBooks Self-Employed.

 

For additional questions about adding SEP IRA or managing your QBSE transactions, leave a reply below. I'll answer you as soon as possible, Keep safe and have a good one.

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