I have 1500 a month deducted for a SEP IRA, how do I properly categorize this?

Hello there, Chattel. 

SEP IRA contributions are reported on Line 28 of Form 1040 (long form) and not directly on Schedule C. So the option to categorize it in QuickBooks Self-Employed (QBSE) is currently unavailable,  which is why they don’t appear in your tax info when categorized as equity.

You can manually mark the transaction as a personal expense to ensure it’s accounted for when completing Form 1040. Before doing so, I highly suggest consulting your accountant for further assistance with the process to ensure the contributions are reported correctly.

Then, you can follow these steps to categorize the transaction:

1. Navigate to the Transactions menu.
2. Look for the transaction on the list.
3. Select Personal, and choose the appropriate category.
4. Enter the other necessary info.
5. Once you're finished, hit Save.

For more details about Schedule C categories, check out this article: Schedule C and expense categories in QuickBooks Solopreneur and QuickBooks Self-Employed.

If you have further question, please don't hesitate to let us know. We're here to help.

Hi, @ChattelServices 

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