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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76421  
Subject: Re: IRA & SEP-IRA - same account? Date: 1/10/2000 2:56 PM
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Greetings, JimA, and welcome. You asked:

<<I am self-employed and want to have my business setup a SEP-IRA. I am also able to contribute $2k to an IRA (done the math) I am wondering if I can setup one account and have the SEP money and my IRA money go into that one account - or am I required to have two separate accounts? I have asked this at ETrade and the response was that I could have just one account and be sure to have two different checks annotated as to where the money came from and they would report it properly. Does anyone have an opinion on this? thanks in advance.>>

Yes, you may use the same IRA for both your SEP-IRA and your annual traditional IRA contributions. Like the agent said, just ensure you indicate clearly which contributions are which so the tax man doesn't get confused at tax filing time. There's no harm in doing so, and it does simplify your files administration by only having to keep track of one statement from the provider.

Regards..Pixy
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