EFTA01222038.pdf

Keogh, SEP and SIMPLE Contribution Worksheet 2018 Keep for your records Name(s) Shown on Return Social Security Number Part I - Keogh/SEP/SIMPLE:401(k) Contributions Note: Maximum contribution calculations herein assume only one Taxpayer Spouse plan. Multiple plan contributions: see Help. Money Purchase Plan or Multiple Plans (see Help) 1 a Enter the total contributions made and/or expected to be made to a money purchase Keogh plan for 2018 b Keogh contributions from Schedule(s) K-1 c Total contributions to money purchase Keogh plan d Check here to compute the maximum deductible contribution U U Profit Sharing Plan 2 a Enter the total contributions made and/or expected to be made to a profit sharing Keogh plan for 2018 b Keogh contributions from Schedule(s) K-1 c Total contributions to profit sharing Keogh plan d Check here to compute the maximum deductible contribution Defined Benefit Plan 3 a Enter the total contributions made and/or expected to be made to a defined benefit Keogh plan for 2018 b Keogh contributions from Schedule(s) K-1 c Total Keogh contributions to defined benefit plan SEP 4 a Enter the total contributions made and/or expected to be made to a Simplified Employee Pension (SEP) plan for 2018 b SEP contributions from Schedule(s) K-1 c Total SEP contributions d Check here to compute the maximum deductible contribution SIMPLE 5 a Enter total contributions made to a SIMPLE Retirement Plan for 2018 (Do not include matching contributions) b SIMPLE contributions from Schedule(s) K-1 c Total SIMPLE contributions d Enter matching contributions only to report on Form 1040, line 28 . Individual 401(k) (Do not include Roth 401(k) contributions) 6 a Enter elective deferrals made to an individual 401(k) plan for 2018 excluding catch-up contributions b Elective deferrals to an individual 401(k) plan from Sch K-1 c Enter catch-up contributions made to an individual 401(k) plan . . . d Total elective deferrals including catch-up contributions made to an individual 401(k) plan for 2018 d Enter the total employer matching (profit sharing) contributions made to an individual 401(k) plan for 2018 f Check here to compute the maximum deductible contribution Roth 401(k) (deferrals to designated Roth 401(k)s are not deductible) 7 a Enter elective deferrals made to a qualified Roth 401(k) plan for 2018 excluding catch-up contributions b Elective deferrals to a Roth 401(k) plan from Schedule(s) K-1 c Enter catch-up contributions made to a Roth 401(k) plan d Total elective deferrals including catch-up contributions made to a qualified Roth 401(k) plan for 2018 EFTA01222038  Page 2 Part II - Adjustment to Net Earnings Used for Maximum Deductible Contribution Calculation 1 a Enter any farm adjustment to farm net earnings for use in the calculation of maximum deductible contribution b Enter any non-farm adjustment to non-farm net earnings for use in the calculation of maximum deductible contribution c Total adjustment to net earnings for use in the calculation of maximum deductible contribution Part III - Detail of Maximum Allowable Deduction Calculation for Money Purchase, Profit Sharing, SEP and Individual 401(k) Plans Rate: A Plan contribution rate (not reduced rate) B Plan contribution rate on line A plus one C Self-employed reduced rate. Divide line A by line B Steps: 1 a Net profit from self-employment (See Help) b Adjustment to net earnings (from Part II. line lc above) c Total net profit 2 a Deductible portion of self-employment tax (See Help) b Adjustment to self-employment tax (for adj to net earnings) c Total employer-equivalent portion of self-employment tax 3 Net earnings from self-employment. Subtract step 2c from lc 4 Self-employed reduced rate as a decimal (from line C above) 5 Multiply step 3 by step 4 6 Multiply $275.000 by plan contribution rate (not reduced rate) 7 Enter the smaller of step 5 or step 6 8 Contribution dollar limit (not more than $55,000: multiply $275,000 by self-employed reduced rate) Note: The program will automatically calculate the allowable elective deferrals to your Individual 401(k) if you have any entries in Part I, line 6. 9 Allowable elective deferrals (including designated Roth contributions) to an Individual 401(k) (not more than $18,500) 10 Subtract step 9 from step 8 11 Subtract step 9 from step 3 12 Enter one-half of step 11 13 Enter the smallest of step 7. 10. or 12 14 Subtract step 13 from step 3 15 Enter the smaller of step 9 or step 14 Note: If you are 50 or over, the program will automatically calculate the maximum allowable catch-up contribution to your Individual 401(k) if you have any entries in Part I, lines 6 and 7. 16 Subtract step 15 from step 14 17 Allowable catch-up contributions (including designated Roth contributions) to an Individual 401(k) (not more than $6.000) 18 Enter the smaller of step 16 or step 17 19 Add steps 13. 15, and 18 20 Enter the amount of designated Roth contributions included in steps 9 and 17 21 If you made no elective deferrals. the smaller of step 7 or step 8. otherwise subtract step 20 from step 19. This is your maximum deductible contribution for MP, PS, SEP & Individual 401(k) Plans EFTA01222039  Page 3 Part IV - Detail of Maximum Allowable Deduction Calculation for SIMPLE Plans 1 SIMPLE contribution (maximum allowed by law including catch-up contribution if age 50 or over) 2 SIMPLE matching contributions (from Part I. line 5d above) 3 Maximum allowable deduction for SIMPLE Plans Part V - Maximum Keogh/SEP/SIMPLE/401(k) Deductible Contribution 1 Total maximum allowable deduction. Maximum Keogh. SEP. SIMPLE. andior 401(k) deduction allowed. not including defined benefit plan contribution(s). Add Part III line 21 and Part IV line 3. . . 2 Amount(s) transferred to Schedule 1. line 28 EFTA01222040