401K and SEP IRA contributions for self-employed

user17714467146 · ‎February 18, 2026

I am self-employed and file a Schedule C. I do not have a retirement account yet and will be opening one this month. My husband is W-2 income and has an IRA through his employer, and we file jointly. If I open a Solo 401K or a SEP IRA this month for myself and make a contribution before April, would it be tax-deductible on my 2025 taxes? Or did the account have to be opened in 2025?

RogerD1

In both cases, either a Solo 401(k) or a SEP-IRA will allow you to deduct contributions up to the tax filing deadline. However, it is recommended to have had the plan set up by the end of 2025 to ensure contributions options are available to you.

Here are IRS FAQ about SEP

And Solo 401(k)

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