SEP and IRA

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

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3 Replies

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

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

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

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