K1 and W2 - SEP IRA Eligibility?

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Subject Author Date K1 and W2 - SEP IRA Eligibility? Jim Garrison 06-18-2007  Re: K1 and W2 - SEP IRA Eligibility? Benjamin Yazersky CPA 06-21-2007  Re: K1 and W2 - SEP IRA Eligibility? Jim Garrison 06-24-2007
Posted by Jim Garrison on June 18, 2007, 9:27 am Please log in for more thread options I have been a partner in a firm, receiving K1s, for several years. I have a personal SEP-IRA. This year I am going to receive W2 income in addition to K1 income. Can I still contribute up to 25% of my K1 income to the SEP-IRA? << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2006) - All rights reserved. >> << ------------------------------------------------------- >> Posted by Benjamin Yazersky CPA on June 21, 2007, 5:44 pm Please log in for more thread options > I have been a partner in a firm, receiving K1s, for several > years. I have a personal SEP-IRA. This year I am going to > receive W2 income in addition to K1 income. Can I still > contribute up to 25% of my K1 income to the SEP-IRA? are you covered by a qualified plan in your W2? ___________________________________ <<< Benjamin Yazersky, CPA [NJ & NY] >>> -----> real address on hobokeni or hobokenx <----- << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2006) - All rights reserved. >> << ------------------------------------------------------- >> Posted by Jim Garrison on June 24, 2007, 10:41 pm Please log in for more thread options Benjamin Yazersky CPA wrote: >> I have been a partner in a firm, receiving K1s, for several >> years. I have a personal SEP-IRA. This year I am going to >> receive W2 income in addition to K1 income. Can I still >> contribute up to 25% of my K1 income to the SEP-IRA? > are you covered by a qualified plan in your W2? Yes << ------------------------------------------------------- >> << The foregoing was not intended or written to be used, >> << nor can it used, for the purpose of avoiding penalties >> << that may be imposed upon the taxpayer. >> << >> << The Charter and the Guidelines for submitting posts >> << to this newsgroup as well as our anti-spamming policy >> << are at www.asktax.org. >> << Copyright (2006) - All rights reserved. >> << ------------------------------------------------------- >> Similar Threads Posted K1 and W2 - SEP IRA Eligibility? June 19, 2007, 9:30 pm K1 and W2 - SEP IRA Eligibility? June 19, 2007, 9:30 pm Eligibility for IRA w/ 401k February 21, 2007, 6:28 pm IRA contribution eligibility April 14, 2009, 10:32 am Eligibility for dependent care FSA ? December 11, 2008, 3:48 pm ESOP Dividend Rollover Eligibility February 25, 2007, 4:41 am Stimulus eligibility and Food Stamps April 12, 2008, 9:21 pm Tax Return for Insurance Dependent Eligibility? September 8, 2009, 2:42 pm Eligibility to open and maintain a solo 401(k) plan? November 17, 2006, 1:19 am Tax Deduction Eligibility when paying with Unsubsidized Stafford Loan May 9, 2007, 4:32 pm