Section 415 limit for commonly controlled businesses.

[Guest Kim Saunders]

For purposes of determining the 415 limit for a self-employed person under the commonly controlled business rules, are net losses arising from active partnership SE losses netted against net income from such partnerships?

Example: Net loss - Ptrship A ($60,000)

Net Inc. - Ptrship B $100,000

For 415 purposes applied to the Ptrship B plan contribution, is this individual's compensation $100k or $40K?

[Guest Steve Hample]

See the similar question I asked under SEP and SIMPLE plans to which Dawn Hafner kindly provided a reference.

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