For years, Turbotax home and business has been guiding me toward being able to contribute to BOTH a SEP and an individual 401k as long as I don't exceed specified limits. Now, my financial institution is saying that I have to pick one. I've already filed my return saying that I would do both. What gives? Who's right? I'm in the middle of slogging my way through the IRS pub 560, but it's horribly written, vague and tedious, and I'm not seeing much clarity in it. Any help?
