SEP IRA and or IRA?

My client has W2 income in 2019 and income from her own law practice with Schedule C income.
Can she contribute to an IRA in 2019 and a SEP-IRA?

She is also married to a W2 income employee who has a retirement plan he contributes to.
Combined incomes are more than $200,000.

Thanks!



Client can contribute to a SEP and make an IRA contribution, but the IRA Contribution may not be deductible. It depends on exactly what their MAGI is, and whether a SEP contribution is made in 2019 as well as if she participates in any retirement plan for the W 2 income job.

Add new comment

Log in or register to post comments