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#4
08-27-2004, 11:23 PM
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 Re: missed SEP-IRA deposit date, however have already claimed the deduction - quote - > I claimed a SEP-IRA deduction (that I was going to deposit),
You will need to file a 1040X to correct your return.> however forgot to deposit this money in my SEP-IRA account > by the due date. > I guess, I will have to revert back this deduction now. How > do I do this? Which form etc. do I need to fill out? This should be done ASAP. Bruce Raskin, CPA Small Business and Individual Tax and Accounting Services << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#3
08-27-2004, 11:04 PM
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| Re: missed SEP-IRA deposit date, however have already claimed the deduction - quote - > I claimed a SEP-IRA deduction (that I was going to deposit),
1040X and attach any amended forms or schedules (NOT the> however forgot to deposit this money in my SEP-IRA account > by the due date. > I guess, I will have to revert back this deduction now. How > do I do this? Which form etc. do I need to fill out? 1040) Helen, EA in PA 50 miles, 3 days, 1 cause - Multiple Sclerosis Challenge Walk for the Cure October 1 to October 3, 2004 Donate on-line at www.msandyou.org << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
08-27-2004, 10:26 PM
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| Re: missed SEP-IRA deposit date, however have already claimed the deduction rajeev[at]tipnis.net (RT) writes: - quote - > I claimed a SEP-IRA deduction (that I was going to deposit),
Form 1040-X, Amended Return.> however forgot to deposit this money in my SEP-IRA account > by the due date. > I guess, I will have to revert back this deduction now. How > do I do this? Which form etc. do I need to fill out? Phil Marti Topeka, KS << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
08-27-2004, 09:48 PM
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| Re: missed SEP-IRA deposit date, however have already claimed the deduction rajeev[at]tipnis.net (RT) wrote: - quote - > I claimed a SEP-IRA deduction (that I was going to deposit),
Since you never actually made the deposit, just file an> however forgot to deposit this money in my SEP-IRA account > by the due date. > I guess, I will have to revert back this deduction now. How > do I do this? Which form etc. do I need to fill out? amended 1040X return, and remove the erroneous deduction. And, pay the additional tax due. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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08-27-2004, 09:48 PM
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| Re: missed SEP-IRA deposit date, however have already claimed the RT wrote: - quote - > I guess, I will have to revert back this deduction now. How
You would prepare a 1040X (presuming your individual return> do I do this? Which form etc. do I need to fill out? is the problem) to remove the deduction for the SEP contribution and report the additional tax now due. -- Ed Zollars, CPA Phoenix, Arizona << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
08-26-2004, 02:40 AM
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| missed SEP-IRA deposit date, however have already claimed the deduction I claimed a SEP-IRA deduction (that I was going to deposit), however forgot to deposit this money in my SEP-IRA account by the due date. I guess, I will have to revert back this deduction now. How do I do this? Which form etc. do I need to fill out? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| claimed, date, deduction, deposit, missed, sepira |
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