How do I report my SEP IRA contribution for the year 2024 before my broker sends out the tax document before April?

Forum|Forum|1 year ago
January 22, 2025
1 reply
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I've always contributed my personal IRA for the year before tax filing. However, the broker always sent the tax document after April after I filed my tax already. I assume that the tax document for SEP IRA will be sent out the same as my personal IRA after April. Thanks

VolvoGirl

Employee

What form do you get after April? The 5498? You enter your contributions from your own records. You don’t need the 5498.

jade70Author

thanks for the answer.

2024 was my first year of contribution for SEP IRA, so I don't know what form I will receive. Yes, I do have own record

AmyC

Employee

Form 5498 will be sent for your SEP IRA. If you are a self-employed individual or a business owner making contributions to your own SEP IRA, you will also need to report these contributions on your tax return. For self-employed individuals, the contributions are typically deducted on Schedule C (Form 1040) or Schedule F (for farmers), and the total contributions are also reported on Form 1040.

You can go ahead and file since you know the amount.

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