I have two sources of income in 2021; a regular job and a side gig doing some IT consulting
For the regular job I maxed out my ROTH 401k at work for 2021 and also maxed out the catch up (Im in my 50's).
For the side gig I made another 25k on during the year and i wanted to put $5000 of the side gig monies into a SEP-IRA that I have at my brokerage. When I entered the 5K amount as a SEP contribution Turbotax told me that I was over the limit and this amount should be reduced/removed.. This doesnt seem right - it seems to be treating the monies from my job against the SEP limit.
I am seeking guidance if this is correct - I thought SEP limit was completely separate from the Roth 401 I have at my job?
