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Yes, I looked at the SEP limits. He is a sole proprietor, no employees. He contributed in 2024 for both designated to 2023 and 2024. $20K for each year(total $4...
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Thank you for the link. It will apply to 2024 if my client does not fix it.He has the same problem in 2024 but has not filed his taxes yet.
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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 proseri...
