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Old 04-01-2016, 11:39 AM
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Deductible contributions to SEP, own traditional IRA and husbands IRA?

Hi. I made $209,415 from my sole proprietorship business. Can I contribute the 20% max of the net business income ($33,211) to a SEP-IRA, $5,500 to a traditional IRA (NOT Roth), and $5,500 to my husband's traditional IRA (not ROTH), and all of it ($33,211 + $5,500 + $5,500) will be tax deductible? My husband has only $15 of other income and no retirement from an employer. Thank you for your help.



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