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Net profits required in order to make a SEP contribution?


Guest fusiuser
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Guest fusiuser

Do you have to have net profits in order to make a SEP cnt. If a farmer has and is showing a net loss can he make his SEP cnt? In a profit sharing plan can elect if you want to limit the cnt to net profits but thats not an option in a SEP.

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Guest Paul McDonald

You have to have net earnings from self-employment in order to calculate a contribution amount. If you have a loss, you have nothing to take a deduction from.

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