topic Thank you very much in Retirement tax questions

Is there a way, being self employed and 70.5, that I can contribute to a retirement plan?

rfentin — Sat, 01 Jun 2019 23:55:47 GMT

Unfortunately, if you were 70.5 or older on 12/31/18, you...

Rachel_W — Sat, 01 Jun 2019 23:55:49 GMT

Unfortunately, if you were 70.5 or older on 12/31/18, you are not eligible to make a Traditional IRA Contribution.

Thank you! What about SEP IRAs or personal 401ks

rfentin — Sat, 01 Jun 2019 23:55:50 GMT

Thank you! What about SEP IRAs or personal 401ks

You can still make contributions to a SEP IRA or a Solo 4...

Rachel_W — Sat, 01 Jun 2019 23:55:52 GMT

You can still make contributions to a SEP IRA or a Solo 401(k) if you are reporting a profit on your Sch C. Keep in mind, you are required to begin Required Minimum Distributions (RMDs) from these accounts by April 1 of the year you turn age 70.5.

Thank you very much

rfentin — Sat, 01 Jun 2019 23:55:52 GMT

Thank you very much