I made an excess contribution to my SEP-IRA for 1999 in the amount of $221. In January, I asked my broker to remove the excess, and due to earnings on the excess, the amount actually removed was $258.64. My question is how to report the situation on my taxes. The simplest thing to do is to pretend it never happened. That is, when I get to the question, "Did you make a contribution to a SEP-IRA?", my answer will be "No." That is what I hope is the case. But I have a sick feeling it might be the alternative: i.e., report the amount $221, and then subsequently report a distribution. I know someone out there knows the answer to this simple question. Thanks to whomever you are!Sincerely,lhdill54
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra