: Deducting SEP-IRA contributions as a sole proprietor with no employees Is it possible to deduct SEP-IRA contributions from a Schedule C Form 1040? I was a sole proprietor with no employees. It seems like if I had employees,

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Deducting SEP-IRA contributions as a sole proprietor with no employees
Is it possible to deduct SEP-IRA contributions from a Schedule C Form 1040? I was a sole proprietor with no employees. It seems like if I had employees, I would deduct it on line 19, for Pension and profit-sharing plans. But I'm not quite sure if I would be considered an employee.

This page: turbotax.intuit.com/tax-tools/tax-tips/Self-Employment-Taxes/Reporting-Self-Employment-Business-Income-and-Deductions/INF12031.html says that I should not deduct SEP-IRA contributions for myself on the Schedule C form. And that I should deduct it on my 1040. But I was under the impression I could make an employer contribution to a SEP-IRA.

I've tried both scenarios on TaxAct, and inputting the contribution as a business expense decreases both my state and federal taxes, while inputting it on my 1040 just decreases my state taxes.

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