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SEP for person with income from W2 and 1099

Guest LLCNewbie

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Guest LLCNewbie

Seeking advice. In 2013, I received W2 severance from past employer. Also received 1099-MISC consulting income via my 1-person LLC.

Am I able to set up and contribute to a SEP IRA from my 1099 income as per IRS Pub 560, or does my W2 severance income affect situation.

Thank you in advance!

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