Hi,

I have a client that is 66, files a single return. She was self employed in 2022 with a net profit on Schedule C of approx. $72,000. Her MAGI is about $90,000. Her CPA says she can do a max 2022 SEP IRA contribution of $13,400. My understanding is she can also do $7,000 into her Roth IRA (for tax year 2022) given she had earned income and is below the MAGI limit for Roth contributions. She can do both the $13,400 SEP plus $7,000 into a Roth IRA, correct?