Contribution for sep ira and roth ira together

[Isikserra]

I am self employed and getting 1099 from my employer!! I have a Sep IRA, traditional IRA and Roth IRA 

I make my own contribution to all of them!! What is my total contribution amount all together to these accounts? I made $4400 to Roth IRA and traditional IRA all together but i also made contribution of $15000 to my Sep IRA account so it is all together $19400

Am i ok with this amount or exceeded?

Because my accountant says i can't make more than  $8000 all together!! What do i need to do?

I need help !!

[Bsch4477 · Accepted solution]

If age 50 or older your total traditional and Roth IRA amount is $8,000. But in addition you can contribute separately to a SEP IRA. 

• If you're self-employed, your contributions are generally limited to 20% of your net income. (Net compensation for self-employed individuals is generally the net profit from IRS Schedule C reduced by the deductible self-employment tax. The eligible compensation limit, indexed for inflation by the IRS, is $345,000 for 2024 or $350,000 for 2025.)

[dmertz]

Keep in mind that, absent other compensation from a W-2 employer, the sum of your traditional SEP IRA contribution, personal traditional IRA contribution, Roth IRA contribution and the deductible portion of self-employment taxes is also not permitted to exceed your net profit from self employment.

[Isikserra]

Thank you so much for your reply! I want to give more information about myself? I am an independent contractor in a sport club and work as a massage therapist! I receive 1099 from the club!! I am sorry i need to correct i made $8000 contribution to my Sep IRA and $4400 to my Roth and Traditional IRA together so the total is $12400. You are saying that i can do that? Do i need to withdraw the excess

contribution? What do i need to do for tax purposes? Why is my accountant telling me that i can only contribute $8000 all irs accounts combined? How do i need to explain to her? 

Thank you again