dmertz
Level 15

Retirement tax questions

SEP contributions are employer contributions.  The employer deducts the contribution on your employer's tax return.  You do not deduct it on your individual tax return .

 

Did you make a regular personal IRA contribution independent of the SEP contribution?  (Normally one does not make regular personal contributions to the same SEP-IRA to which employers make SEP contributions.  Some SEP-IRA custodians don't allow it and even if they do, special care must be taken so that the custodian records it as a regular personal IRA contribution and not a SEP contribution.)