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Author: Crosenfield Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75340  
Subject: Re: Help with Options for Parents Date: 1/14/2004 3:08 PM
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A self-employed person is allowed to make a contribution to a regular IRA in addition to a SEP-IRA. The SEP and the regular traditional IRA can be put in the same account. Instead of a regular traditional IRA it would make more sense for your dad to open a Roth IRA, which would be a separate account from his SEP. Yes, he is allowed, at his income level, to both put $3500 into the Roth and whatever the figure may be into his SEP.
Best wishes, Chris
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