Income Allocable to Excess Amounts. The rules for determining and allocating income to excess elective deferrals, excess SEP contributions, and disallowed deferrals are the same as those governing regular XXX contributions. The trustee or custodian of your SEP-XXX will inform you of the income allocable to excess amounts.
Income Allocable to Excess Amounts. The rules for determining and allocating income attributable to excess elective deferrals and other excess SIMPLE contributions are the same as those governing regular IRA excess contributions. The trustee or custodian of your SIMPLE IRA will inform you of the income allocable to such excess amounts.
