Do the IRA-SEP contributions for husband and wife have to be equal amounts

[matrophy]

Self-employed husband and wife running our business together with no employees. We have only had an IRA-SEP in my name and my wife wants to have her own IRA-SEP. We have been splitting our Schedule Cs so we both vest in Social Security. She will open an IRA-SEP for 2016 in her name and I'm wondering if the contributions to her account have to be equal to mine or if they can  be different amounts.

[Zbucklyo]

They can be different amounts, as long as neither is more than the amount allowed - essentially 18.6% of net Schedule C profit from self-employment (assuming less then $53,000).  If the Schedule C's are identical, the maximum each of you can contribute is the same, but you don't have to contribute the same amount.

[Lisa995]

Sounds like they are filing a single Sch C with both names on it.

[SweetieJean]

"We have been splitting our Schedule Cs so we both vest in Social Security."

[SweetieJean]

See OP's prior posts. Not clear if they have an LLC, or if they live in a Commuity Property State.

[VolvoGirl]

I don't think so.  He said splitting sch C so they both get SS credit.  Which would be from separate schedule Cs

[Lisa995]

Oh, ok.  I interpreted it as "sharing" a Sch C so they both get SS credit.  But it does say "splitting" so I guess that would mean 2 separate Sch C's.