Can a self-employed taxpayer who files schedule C and makes a maximum contribution to a SEP-IRA still contribute to a ROTH-IRA if they are below the income limitations for the ROTH?

[Terry53029 · Accepted solution]

Yes

[dascpa]

Prior answer is correct, with the added note - total contributions to all defined contribution plans cannot exceed the annual maximum.

[rust]

Thank you very much.

[jofijohnjoseph]

A contribution to a Traditional or Roth IRA account is not impacted in any way by how much you contribute to a self employed retirement account (e.g. a SEP-IRA or a Solo 401(k)).