Thank you very much for the reply. @HopeS
I should have explained the concern more clearly:
I work as part time solo contractor, in addition to regular W2 job.
this is the first time I fund SEP for myself, say $2000, on 3/1/23 for yr 2022. and then found I had to make some adjustments to my deductions, which resulted less taxable income and less SEP (say $1900). I have not filed my tax return for 2022 yet.
from the above q&a, it seems that I do NOT have to withdraw (or refund) this “excess SEP-IRA funds” for now, and designate the $100 as SEP for 2023, am I correct?
The above post mentioned Form 5498, does this form determine which year the funds belong to? @mmcc4240
another related question: since I funded my own SEP as employer and only employee, will I receive form 5498 from Fidelity, or should I file this form , and when should I do so?
