Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (9) | Ignore Thread Prev | Next
Author: 4aapl Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 122319  
Subject: Re: IRA, Roth IRA, and SEP Date: 1/15/2014 5:51 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
What is allowable for a combination of an IRA, Roth IRA, and SEP?

Assuming you're both under 50, $5,500 each for traditional/Roth IRA. (Total contribution between the two types for each of you cannot exceed $5,500.) For SEP, figured separately for each of you, it's 20% of (the bottom line of Schedule C minus line 6 or 13 of Schedule SE). There are SEP dollar limits also, but you won't come anywhere near them.

Rule Your Retirement Home Fool

So we could each do $5.5k for our Roth's (11k total)

In addition, for our SEPs I could add $8k ($40k * 20%) and my wife could add $200 ($1k * 20%).

Thanks for your help!
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (9) | Ignore Thread Prev | Next


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
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.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
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.