Deduct after RMD Age

[Golden Rocket]

Can you continue to deduct contributions to a SEP after age 70 1/2?

[ChEAr$]

Can you continue to deduct contributions to a SEP after age 70 1/2?

yes, to the IRA which is allowed by the SEP that is.

[Burke]

I have one who is 78 and still self-employed. Funds that SEP every year.

[Roland Slugg]

Yep ... it's one of the more interesting rules regarding IRAs. A T/P can contribute to a SEP-IRA after age 70½, but he also must take an RMD each year as well.

[oceanlovin'ea]

a self employed person can do that. But if they work for a company, they can't put into an IRA, unless the company puts into the SEP for them.

It is interesting.

Linda, EA