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Get your taxes done using TurboTax
I'm not sure why this would happen, as a contribution to a SEP IRA would normally reduce your taxable income. One possibility is that you owe money rather than are getting a refund, but you are miss-reading the refund meter. If so, you might be looking at a tax due thinking it is a refund, so when you add the IRA contribution, the tax due decreases, so you think your refund decreased in error.
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March 30, 2021
1:48 PM