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REDDIT

Is it worth it to amend my taxes for an SEP IRA distribution?

M
Mar 28, 2025 · 00:11

Don’t mean to be that guy but…. I am considering selling some equities from a brokerage account (I’m at a loss anyway so I can offset that later), and using that cash to fund a 2024 SEP IRA. However, I have already filed taxes and am wondering if this would be worth the hassle + tax savings? I plan to put the full 25% of my self employment income into this (roughly 5k). For context - my tax bill was just over 12k (yes I know… long story… do your quarterly payments). I’m more curious if the difference is really worth it.