Skip to main content
TurboTax
Community
TurboTax
TurboTax
L
lp1005
Level 1
March 23, 2023
Question

SEP and IRA

  • March 23, 2023
  • 3 replies
  • 15 views

I am self employed, can I contribute to both a SEP and an IRA?

3 replies

B
Level 15
Bsch4477Level 15
Level 15
March 23, 2023

Yes, you can but if you contribute to a traditional IRA it won’t be deductible so you might consider a ROTH. 

D
dmertz
Level 15
March 23, 2023

The traditional IRA contribution may or may not be deductible depending on modified AGI for the purpose.

B
Level 15
Bsch4477Level 15
Level 15
March 23, 2023

Yes, see this site to determine whether your traditional IRA contribution is fully or partially deductible 

 

https://www.irs.gov/retirement-plans/plan-participant-employee/2022-ira-contribution-and-deduction-limits-effect-of-modified-agi-on-deductible-contributions-if-you-are-covered-by-a-retirement-plan-at-work

 

 

TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Explore your options
Terms & ConditionsAccessibility statement
Sitemap
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2026 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, Credit Karma, and Mailchimp are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.

Security Certification of the TurboTax Online application has been performed by C-Level Security.

By accessing and using this page you agree to the Terms of Use.

About Cookies Manage cookies

TRUSTe nResult Certified e-File C-Level Security Certification
Intuit
TurboTax Credit Karma QuickBooks MailChimp

© 2026 Intuit Canada ULC or its affiliated companies. All rights reserved. Intuit, QuickBooks, QB, TurboTax and ProFile are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.

Copyright © Intuit Canada ULC, 2026. All rights reserved.

About Cookies Manage cookies

Intuit
TurboTax Credit Karma QuickBooks MailChimp

© 2026, Entreprises Intuit Canada ULC ou ses sociétés affiliées. Tous droits réservés. Intuit, QuickBooks, QB, TurboImpôt et ProFile sont des marques déposées d’Intuit Inc. Les modalités, prix, fonctions et options de service et de soutien peuvent changer sans préavis.

© 2026, Entreprises Intuit Canada ULC. Tous droits réservés.

À propos des témoins Gérer les témoins