SEP contributions..

[hac42]

Can you use your spouses income to figure the amount TP can contribute(the 25%)??
I have looked through the TB and can't find where it talks about that.


Thanks for your help.

[Roland Slugg]

No. A SEP contribution and deduction is based only on the SE income of the person's business (or businesses). The spouse, however, may be eligible to make an IRA contribution based on his/her own income ... subject to the IRA limitation rules, of course.