Partnership SEP
If I joined a law partnership as a partner and was not eligible for the Partnerships SEP plan, can I open my own plan and contribute until I am eligible?
Year 2022 not eligible. Year 2023 will become eligible. I assume I am only referring to the year 2022.
Permalink Submitted by Alan - IRA critic on Fri, 2023-06-30 22:16
No. A partner is not eligible to make individual SEP contributions. You would have to wait until you were eligible for SEP contributions made by the partnership.
Permalink Submitted by Frieda Friedman on Sun, 2023-07-02 15:37
thank you