Question

Robin (32) is the sole proprietor of a sushi restaurant. in 2022, she made sep-ira contributions on behalf of herself and three employees. her contributions were made in the following amounts: $6,000 in employer contributions for her employees. $3,500 in employer contributions to her own sep ira. how much will robin dedrobin (32) is the sole proprietor of a sushi restaurant. in 2022, she made sep-ira contributions on behalf of herself and three employees. her contributions were made in the following amounts: $6,000 in employer contributions for her employees. $3,500 in employer contributions to her own sep ira. how much will robin deduct on schedule 1 (form 1040), line 15 (self-employed sep, simple, and qualified plans)?uct on schedule 1 (form 1040), line 15 (self-employed sep, simple, and qualified plans)?

Answer 1

Robin can deduct $9,500 on Schedule 1 (Form 1040), Line 15 for her self-employed SEP-IRA contributions.

Step-by-step explanation:

Robin can deduct her SEP-IRA contributions on Schedule 1 (Form 1040), Line 15, under the category of self-employed SEP, SIMPLE, and qualified plans.

Based on the information given, Robin made $6,000 in employer contributions for her employees and $3,500 in employer contributions to her own SEP-IRA. Therefore, her total deductible amount would be $6,000 + $3,500 = $9,500.

This amount should be reported on Schedule 1 (Form 1040), Line 15, along with any other deductible amounts from other self-employed plans.