I had self employed income in 2017 and contributed to SEP-IRA in 2018 for the tax year 2017. I used TurboTax home & business edition for my 2017 tax return in 2018, and I didn’t claim any business loss or deductions, just net income. I reported the SEP-IRA contribution in my 2017 tax return.
In 2018, I didn’t have any self employed income and didn’t contribute to my SEP-IRA for the tax year 2018.
In 2019, I received a form 5498 for my 2018 Sep-IRA contribution for the tax year 2017.
My questions are:
1. Do I need to to anything for this form 5498?
2. Since I didn’t have any self employed income in 2018, can I just switch to TurboTax premier edition to do my tax return?
3. Is there anything I need to do for my SEP-IRA account since I didn’t have any self employed income in 2018 and also may not have any in the next a few years?
