Permalink Submitted by Alan - IRA critic on Thu, 2024-04-04 23:41
Yes, but the SEP contribution is treated as active participation in a plan and may affect the deduction of a TIRA contribution. While a personal (TIRA) contribution can be made to a SEP IRA that also receives the SEP contribution, there is a risk that the TIRA contribution can be miscoded as a SEP, so it is safer to make these contributions to separate IRA accounts.
Permalink Submitted by Alan - IRA critic on Thu, 2024-04-04 23:41
Yes, but the SEP contribution is treated as active participation in a plan and may affect the deduction of a TIRA contribution. While a personal (TIRA) contribution can be made to a SEP IRA that also receives the SEP contribution, there is a risk that the TIRA contribution can be miscoded as a SEP, so it is safer to make these contributions to separate IRA accounts.