Hi,
I have overcontributed in SEP IRA in Year 2022. I realized it when filing taxes and withdraw the excess contributions (a week back so in 2023). The excess contributions that i have received back has around 300$ losses. What I understand reading on forums is that since I did not have any profit on this excess contribution I do not need to report it on my Year 2022 taxes and I can only report the contribution that is left (after i withdraw my excess contribution) in my taxes. Is that correct understanding or do i need to report this activity anywhere? If I need to can you please advise how can I do that in Turbo Tax? Thanks
