The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  http://boards.fool.com/greetings-bob-and-welcome-you-asked-11705482.aspx

Subject:  Re: Have SEP IRA - can I get a Roth too? Date:  12/24/1999  9:32 AM
Author:  TMFPixy Number:  16842 of 76237

Greetings, Bob, and welcome. You asked:

<<"Annual contributions to a Roth IRA are limited to $2,000 minus the taxpayer's traditional IRA contributions."

I currently have a SEP-IRA, to which more than $2,000 is being contributed, yearly. Does that, together with the above quote, mean that I wouldn't be able to contribute to a Roth IRA?>>


A SEP-IRA is a retirement plan set up by the self-employed, In that sense it is not a traditional IRA. You may continue to make a contribution to both a traditional and/or a Roth IRA in addition to what you contribute to the SEP. The SEP merely limits a possible deductible contribution to a traditional IRA.

Regards..Pixy
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us