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Retirement tax questions
So, if I take additional distributions from both my IRA and my SEP this year (prior to July 15th I assume now?) And then re-contribute those funds to the IRA and the SEP, then what happens? For example, the total SEP I can currently do is $1900. The IRA, of course, can be up to $6500 $6700? So, I was going to take $5K out of $9K total from the two (haven’t decided where or what yet) then use $2K from another source to contribute to the SEP (1900) and the balance back to the IRA (this are estimates as I’m still working but there aren’t big amounts here)
April 12, 2020
12:46 PM