`for 2018 can I contribute to my employer 401k and set up a sep for my 1099 bonus from different employer

I get a w2 from my employer ABC SUBARU dealership and also get a 1099 from Subaru Corp These are 2 different employers I should be able to set up a SEP for 1099 income correct?

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1 Best answer

Expert Alumni

Jun 6, 2019 12:39:19 AM

If your 1099-Misc show an amount in Box 7, that is considered Self Employment Income and you can contribute to a SEP, along with your 401K.

Here's more info:

https://ttlc.intuit.com/replies/6765436

Expert Alumni

Jun 6, 2019 12:39:19 AM

If your 1099-Misc show an amount in Box 7, that is considered Self Employment Income and you can contribute to a SEP, along with your 401K.

Here's more info:

https://ttlc.intuit.com/replies/6765436

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`for 2018 can I contribute to my employer 401k and set up a sep for my 1099 bonus from different employer