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Author: helenc Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75888  
Subject: Too much in a SEP-IRA Date: 8/17/1999 9:09 AM
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Hi Fool Posters,

My husband will be funding his SEP-IRA at the end of this year (for 1999). He is not sure exactly how much he can contribute tax deductable. So he will be making an educated guess. Here's the question:

If he over contributes (he'll find this out once he does our taxes next year)to the SEP-IRA, what are the ramifications? Meaning the extra money, does it have to be removed from the account? Is the extra money now taxed? And lastly, can that extra money stay in the SEP-IRA accurring gains tax-deferred?

Thank you very much for any replies,

Helen

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