I am self employed and I have an SEP IRA and solo 401k.
I told TT to "maximize" both.
It came back w/ $73,500 total amount (I'm over 50 years old).
And it said, $30K is my max. employee deferral to the solo 401k.
If I put $30k into my solo 401k does it matter where the remaining $43,500 goes?
Can it be split between the SEP and solo 401k?
The reason I have 2 accounts is because I had the SEP IRA for years and just this year I created the solo 401k to get a bigger tax deduction.