The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Re: Do I qualify for SEP-IRA? Date:  9/7/2000  12:33 PM
Author:  TMFExRO Number:  24642 of 88011

My wife and I both 'moonlight' as contractors for a web design outfit. Does this mean that we qualify for the SEP-IRA?

Assuming you're self-employed, yes.

Are we only allowed to contribute out of the proceeds from our self-employed income, or can we contribute from our main job's income as well?

Your maximum SEP contributions are based solely on your net incomes from self-employment. You can't consider the other wages. Details are in IRS Publication 560.

Phil Marti

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us