Hi @dmertz , I have a similar scenario: 2021 is the first year I have contributed to both a solo 401K and SEP. I did the maximum employee contribution to ROTH solo401k, and chose to put the employer contribution into SEP rather than the solo401k. I put the maximum allowable amount into SEP, and that is what I reported on my taxes.
I have since done some more research, and it looks like because of the additional employee contribution to solo401k, the employer contribution might be further limited to half of the difference between net earnings and the employee contribution, rather than the normal calculation (although I am still not clear on this).
If that is the case, can I absorb the excess into my 2022 contribution? And do I need to submit any type of amendment, or can I just reduce my 2022 contribution by the excess amount?
