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http://boards.fool.com/greetings-tony-and-welcome-you-asked-11598616.aspx
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| Subject: Re: IRA to SEP-IRA | Date: 12/2/1999 12:00 PM | |
| Author: TMFPixy | Number: 15835 of 72499 | |
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Greetings, Tony, and welcome. You asked: <<My impression is that you may fund your IRA competely (up to $2000) and also fully fund your SEP-IRA up to max of $24,000 based on $160,000 of income. Isn't this true?>> Yes, that is true. However, chances are the $2K contribution will not be deductible because the SEP contribution is considered like a qualified retirement plan for that purpose. If covered under such a plan, then IRA deductibility depends on one's filing status and adjusted gross income. Regards..Pixy |
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