Discussion:SEP Contributions with Overall S Corp Loss
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Ashtonpolo (talk|edits) said: | 9 March 2008 |
| Real estate client in an S corporation took 100% of Profit in the form of Salary. Is it acceptable to contibute to an SEP and show the corporation with an overall loss due to the SEP Contribution?
Thanks for any advice. Andy--Ashtonpolo 08:28, 9 March 2008 (CDT) | |
Landon5784 (talk|edits) said: | 9 March 2008 |
| Sure...you can borrow to make the contribution if you have no cash...Now if client was self-employed it's a different story | |
Ashtonpolo (talk|edits) said: | 9 March 2008 |
| Thank you for the response. I was just concerned that the corporation for 2007 was showing an overall $17K loss as a result of a $15K contribution to an SEP. Basis is in place to make the contribution however.
Thanks again! Andy--Ashtonpolo 09:58, 9 March 2008 (CDT) | |
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