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Excess Contribution to SEP
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wendijaclene
Level 2
09-15-2024
04:48 PM
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My client in on extension and has an excess contribution to a SEP IRA - How do I report this in ProConnect?
2 Comments 2
qbteachmt
Level 15
09-16-2024
11:36 AM
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Why not have them submit for a corrective distribution? They have until the filing due date. Then it would be moot. You would report it in 2025 for 2024, since there will be a 2024 1099-R issued for it, but it's moot if it's done by the deadline now.
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