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New Member
posted Apr 10, 2024 12:30:40 PM

Excess Contribution

I have a personal Roth and a SEP IRA -- how do I file so I get the benefits of the SEP? It just says I will be penalized for 'over contributing' but that's not true -- as I am contributing as employee, not an individual. Frustrating! I've spent hours on this. 

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1 Replies
Level 15
Apr 10, 2024 12:33:20 PM

Only enter the SEP from your W2.  Nowhere else.  Not under Deductions.  It is not a contribution to a regular IRA.    I think the SEP already came out of your pay pretax.