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Deductions & credits
You can contribute to a SEP-IRA depending on the net income of the business. You may qualify for a saver's credit depending on your income and amount contributed to the IRA. Yes, you can contribute to an IRA as opposed to a SEP-IRA and you may still qualify for the savers credit.
{Edited 3/30/23 at 2:52 PM PST}
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March 30, 2023
2:50 PM