sep plan contribution for spouse after death
self employed husband died during year without completing application to open sep account. I was told that spouse can open sep account based on his income in the year of his death .as long as they are filing a joint return and reporting income on the schedule c. has anyone heard of this and how do you show it on return.
Permalink Submitted by Alan Spross on Sun, 2012-02-05 23:39
Didn’t the spouse inherit the business upon his death? If so, she becomes the employer and should be able to establish a SEP IRA in her name.