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posted Feb 28, 2025 10:12:10 AM

SEP-IRA Contribution

I own a partnership LLC. Two owners, no employees. We want to contribute to a SEP-IRA, but are unsure of the rules of "who" is supposed to contribute. Does this contribution come from the business account or our personal accounts? Or is this synonymous since we're the owners? 

0 1 529
1 Replies
Expert Alumni
Mar 4, 2025 3:38:20 PM

SEP IRA contribution can come from any account that you want.  But it is a tax deduction on your personal return, not on the business return because it is a personal contribution from the business owner.

 

@Naughty Cat Cafe