Original MDTAXES Forum

Author

Comment

Feb 1, 2007 - 5:21AM

Re: sep-ira vs. roth ira with 403b

Contributions to a Roth IRA are never tax deductible. In addition, there are income thresholds that may limit or eliminate your ability to contribute to a Roth IRA at all.

A SEP IRA may only be used with certain types of income, so based on your post, I am unable to tell if your income would allow you to put money into a SEP IRA.

Please let me know if this helps.

Harry

Zip Code: 11797

semperubisububi

Feb 1, 2007 - 1:30PM

Re: Re: sep-ira vs. roth ira with 403b

Yes, i believe I qualify for a Sep-IRA given that i work as an independent contractor as a moonlighting physician. My question is, can i deduct my contribution to a Sep-IRA then? If so, should I convert my Roth IRA to a Sep-IRA?

My other question was, if you are not participating in my employers 403b, can I deduct a contribution to a Roth IRA?

thanks.

Zip Code: 02215