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?
What kind of K-1?
If it is from a Partnership, what is in Box 14?
Isn't the SEP done thru entity that issued K1 ?
There is no income here eligible for a SEP.
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.
