SEP-IRA ELIGIBILITY
I have a 75-year old client who has an accounting practice.
He does not need to take an RMD for 2020 as per the new rules.
However, is he eligible to contribute to his SEP-IRA for 2020?
I have a 75-year old client who has an accounting practice.
He does not need to take an RMD for 2020 as per the new rules.
However, is he eligible to contribute to his SEP-IRA for 2020?
Permalink Submitted by Alan - IRA critic on Mon, 2020-07-06 17:31
Yes, SEP contributions can continue regardless of whether RMDs must also come out for the same year.