09-21-2006, 05:50 PM
| |||
| |||
 Re: 401(k) and SEP IRA in same year <johndlee[at]gmail.com> wrote: - quote - > I maxed out my 401k contributions this year and then left my
Yes. The $15,000 limit is for salary deferral, and the SEP> job to become an independent contractor. Can I also > contribute to my SEP IRA this year contribution is not that. You would not be able to make a SIMPLE contribution, but the SEP is fine. See IRS Publication 560. -- Phil Marti Clarksburg, MD << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
|
#-1
09-21-2006, 01:48 AM
| |||
| |||
| 401(k) and SEP IRA in same year I maxed out my 401k contributions this year and then left my job to become an independent contractor. Can I also contribute to my SEP IRA this year or did my $15k in the 401(k) eliminate my ability to contribute to the SEP? Thanks! << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| 401k, ira, sep, year |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| transactions frmo year 2005 showing in year 2006 Jack W: Using Mney 2004. 4 transactions for year 2005 are showing up in year 2006 under the category and payee list, but they are not showing up as a... | Microsoft Money | 1 | 09-18-2006 11:04 PM | |
| Date for Recognizing a Loss on a Roth IRA - Can it relate back to prior year (current filing year) if done before April 15th? John Smith: 1. I have a loss on a Roth IRA that is deductible. However, I did not liquidate the balance of the Roth IRA account as requied until March 10,... | Taxes | 3 | 03-20-2006 07:03 AM | |
| Federal tax year for underpaid prior year state income tax Victor Roberts: I had taken early retirement from my employer of many years in late 1999 and had started a consulting business. I was therefore receiving my... | Taxes | 2 | 09-15-2005 05:20 PM | |
| Re: Can we move / reclaim a charitable contribution in a later year from the donation year?! Seth Breidbart: David <webmaster@crmsolmag.8m.com> wrote: > We donated appoximately $10,000 in stock to a temple we > belonged to in 2001. They asked what we... | Taxes | 2 | 07-03-2003 08:17 AM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
