Camille1
Level 1
02-22-2025
04:25 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
My client over contributed $14K in his SEP in 2023. He did not report it on his tax return. I entered his 2023 return with the excess contribution and proseries calculated the correct deduction but did not flag the overage with a penalty. Do I manually prepare form 5329 in order to calculate the penalty?