Discussion:SEP Contribution, 2 Schedule C's
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Discussion Forum Index --> Advanced Tax Questions --> SEP Contribution, 2 Schedule C's
Discussion Forum Index --> Tax Questions --> SEP Contribution, 2 Schedule C's
IDrinkYourMilkshake (talk|edits) said: | 20 March 2008 |
| TP has two schedule C's for consulting business, one is from a SMLLC. As of know, I am only using the Schedule C the SEP plan is established under to determine the max contribution. Beacause these are essentially the same business (under two names), any issues with using both incomes in the calculation to increase SEP limit? | |
| 20 March 2008 | |
| I believe you net the income/loss of both Schedule C's to determine elgible SEP contribution. | |
IDrinkYourMilkshake (talk|edits) said: | 20 March 2008 |
| I'm thinking the same as a SP and the taxpayer are the same entity in the IRS's eyes. Anyone else? | |
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