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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 123517  
Subject: Re: (SEP)IRA - Reporting Year of Contribution Date: 2/27/2001 4:31 AM
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Sounds like the yutz may be reporting the contributions as they should. Am I reading this correctly?

Live and learn. Yes, I think you're reading it correctly (and I was reading it incorrectly). You'll find the specific instruction to the trustee on page R-11 of this document:

Since you noted the year on your check and will properly report your contribution on line 29 of your year 2000 1040, I don't see anything else you can do. There's no doubt that the 5498 doesn't determine the year for which the contribution was made, so you should be just fine.

I'm not going to say this won't result in an IRS inquiry down the road. On the other hand, IRS may realize that absolutely accurate reporting by the trustee may not be possible since the 5498 for contributions has to be issued in May but SEP contributions can be made through the extended due date of your return, IIRC.

Sorry to have added to the confusion.

Phil Marti
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