Permalink Submitted by Alan Spross on Sat, 2008-04-12 00:52
Yes, both classes of contributions can be made to the SEP IRA, as long as they are probably identified with the custodian. However, the regular contribution may not be deductible because the SEP participation is considered coverage in an employer retirement plan. If the TIRA contribution cannot be deducted, perhaps the modified AGI will permit a Roth IRA contribution to a Roth IRA account.
Permalink Submitted by Alan Spross on Sat, 2008-04-12 00:52
Yes, both classes of contributions can be made to the SEP IRA, as long as they are probably identified with the custodian. However, the regular contribution may not be deductible because the SEP participation is considered coverage in an employer retirement plan. If the TIRA contribution cannot be deducted, perhaps the modified AGI will permit a Roth IRA contribution to a Roth IRA account.