Alan, can you provide me with a reference/link for your statement:
Box 7 should have the IRA box checked. The SEP box is only for actual SEP contributions. Same for a recharacterized Roth contribution as a TIRA contribution.
Everything I can find just says that Box 7 specifies what type of IRA it is, not this finer point that a traditional contribution to a SEP-IRA should have the “IRA” box checked instead of the “SEP” box.
I’m not sure Schwab is convinced that the 5498 they issued is wrong, and this might help convince them. Thanks !