SEP IRA–Contribution
Can a self-employed husband split part of his contribution for his SEP IRA between himself & his wife if she works for him but only as contract labor (1099) ? She rolled over a SEP from a former employer so would it have to be another SEP… IF she can contribute?
Permalink Submitted by Alan - IRA critic on Wed, 2017-04-12 23:55
If wife is considered an independent contractor, she is not eligible for a SEP contribution.
Permalink Submitted by mike silvers on Thu, 2017-04-13 11:12
Follow up to above comment – If wife is an independent contract and picks up her income on a schedule C why isn’t she eligle for a SEP based on her Schedule C income?
Permalink Submitted by John Peterson on Thu, 2017-04-13 15:56
Wife would have to set up her own SEP under the name of her Schedule C business.