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| SEP-IRA Calculator Results |
| Your Contribution Amount is: |
Results |
| Step 1. |
Tax Year |
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| Step 2. |
Net Business Profits (From Schedule C, C-EZ, or K-1) |
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| Step 3. | Deduction for Self-Employment Tax (From IRS Form 1040) |
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| Step 4. | Adjusted Net Business Profits (Subtract Step 3 from Step 2) |
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| Step 5. | Actual Contribution Percentage (Desired contribution percentage of earned income, 0 - which can vary each year) |
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| Step 6. | Contribution Factor (Add 1.00 to Step 5) |
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| Step 7. | Adjusted Earned Income (Divide Step 4 by Step 6) |
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| Step 8. | Maximum Earned Income Allowed |
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| Step 9. | Final Earned Income (The lesser of Step 7 and Step 8) |
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| Step 10. | Preliminary Contribution Amount (Multiply Step 5 by Step 9, round down to the closest dollar) |
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| Step 11. | Maximum Dollar Contribution Amount Allowed |
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| Step 12. | Contribution Amount (The lesser of Step 10 and Step 11) |
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If you have any questions, call a Fidelity Retirement Specialist toll-free at 800-544-5373 from 8 a.m. to 8 p.m. ET, seven days a week. | ||
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