Regular IRA Contribution to a SEP account
A client’s CPA is questioning his contribution of $6,500 of a regular IRA contribution to his SEP IRA (the SEP IRA was just used as the vehicle, as the client does not have a traditional IRA). He has never seen this done. How can I explain or cite a reference?
Permalink Submitted by William Tuttle on Mon, 2017-04-10 15:01
Traditional IRA contributions can be made to a SEP IRA account. However, the custodian must permit, track, limit and properly report such contributions.