IRS, Tax related strategies--Traders Message Board

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Strategies & Market Trends : IRS, Tax related strategies--Traders

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To: mod who wrote (189)	2/27/1998 8:42:00 PM
From: Colin Cody	Read Replies (1) of 1383

Dennis, the point is each taxpayer AGGREGATES all his Self-Employment income (Schedule Cs) before he computes the SEP-IRA limitation. . i.e. you are not allowed to compute your SEP-IRA on the one Sch C with the profit, without taking into effect the LOSS Sch C at the same time. . YOU CAN do a computation for SEP-IRA on ONE SPOUSE'S Net Sch Cs (that show a profit) while the other spouse's net Sch Cs show a loss. . Colin

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