Sep IRA
I will be Making a contributon to my sepIRA FOR 2007 but would like to know how much in addition I can contribute to a regular IRA including the over 50 catch up
I will be Making a contributon to my sepIRA FOR 2007 but would like to know how much in addition I can contribute to a regular IRA including the over 50 catch up
Permalink Submitted by Alan Spross on Tue, 2008-04-01 22:33
You can contribute 4,000 to a Roth IRA plus 1,000 catch up. The usual income limits apply.
OR
The same amount as a traditional IRA contribution, however due to your SEP contribution, you are considered a retirement plan participant and therefore income limits may eliminate your deduction for this contribution.
Your SEP IRA does not affect the amount of the other IRA contributions, just the deductibility of a TIRA contribution.