Roth IRA
Question: Can a person make a contribution to a SEP-IRA and a Roth IRA, too? |
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Answer:
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You can make a contribution to a SEP-IRA and a Roth IRA.
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However, neither a SEP IRA or a SIMPLE IRA can be designated as a Roth IRA.
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Your SEP IRA contribution and Roth IRA contribution can not be made to the same IRA.
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If you have both a Roth IRA and a SEP IRA, it can affect the contribution limits.
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See Chapter 2 of Publication 590, Individual Retirement Arrangements (IRAs), for the requirements to contribute to a SEP and a Roth IRA.
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Page Last Reviewed or Updated: November 26, 2008