OK, thank you that is interesting. Your scenario is not quite what happened, but maybe similar enough to still do it. Here's what happened, with made up numbers. Let's say I contributed $30000 and then realized I contributed too much and then withdrew the excess amount which was $10000. I reported on my 2019 taxes that I had contributed the correct amount, $20000. Now I'm left with a $10,000 excess, which can count as a covid distribution for 2020. That's way over what I can contribute based on my 2020 earnings, but I should be able to pay back the $10000 rather than count it as a SEP contribution, correct? My understanding is that would require a separate form to do however? Is this possible in TurboTax?
