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April 10, 2024
Question

Excess Contribution

  • April 10, 2024
  • 1 reply
  • 0 views

I have a personal Roth and a SEP IRA -- how do I file so I get the benefits of the SEP? It just says I will be penalized for 'over contributing' but that's not true -- as I am contributing as employee, not an individual. Frustrating! I've spent hours on this. 

    1 reply

    VolvoGirl
    Employee
    April 10, 2024

    Only enter the SEP from your W2.  Nowhere else.  Not under Deductions.  It is not a contribution to a regular IRA.    I think the SEP already came out of your pay pretax.