SEP IRA contributions and distributions in same year
Are there any restrictions against a 60 year old who is still working to both make contributions and take distributions from his SEP IRA in the same year? He is self employed.
Are there any restrictions against a 60 year old who is still working to both make contributions and take distributions from his SEP IRA in the same year? He is self employed.
Permalink Submitted by mk foss on Fri, 2008-11-14 00:08
There are no problems with taking distributions in the same year you’re making contributions. Owner-employees over age 70-1/2 are required to do so.
Permalink Submitted by [email protected] on Fri, 2008-11-14 14:39
I was 99% sure that was the case but didn’t find what I needed to confirm. Thanks…