california0905
Returning Member

Business file schedule C and used cash method, how to treat sep ira?

2019 tax return was extended to 10/15/2020. 

Made a SEP IRA contribution for 2019 tax year on 9/2/2020. 

 

However, the business used cash method. Is it okay  to put the SEP IRA contribution on 9/2/2020 for the 2019 tax return?

 

Main concern is that the business used cash method instead of accrual method.