No. of Recommendations: 0
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.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.