Hello;

I am glad to find this site, I had a situation we misinformed about SEP and Sole-401k, so we made a over contribution to my 2007 SEP.

So we asked Fidelity to withdraw the access and treat it as my 2008 Sep contribution. Say we over contributed 10,000 for 2007, but fidelity calculated it had a net loss of 1000, so they will redistribute $9000 (to 2008), so the question is how much is the right amount I need to record in my book for my 2008 contribution? The original carried over 10,000 over contribution? or after loss 9000? Also where and how to put this info in our 2007 tax 1040 return (I did correct this before 4/15)? Is this loss tax deductible, if so, where to report it?

Thank you very much for the help.

SL