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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.
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‎October 3, 2020
9:30 PM