Author Topic: Sep IRA question  (Read 910 times)

Long haul

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Sep IRA question
« on: September 07, 2018, 02:40:40 PM »
If your income is considered passive, as with real estate rental property, can you still do a sep ira account? Or is this a bad idea?

terran

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Re: Sep IRA question
« Reply #1 on: September 07, 2018, 03:19:33 PM »
No, you need active business income to contribute to a SEP IRA. You need earned income of any kind to contribute to a regular IRA. Some real estate income can be considered business income if you're considered to be in the trade or business of real estate, but I'm pretty sure that's generally something you want to try to avoid.

Long haul

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Re: Sep IRA question
« Reply #2 on: September 07, 2018, 07:31:45 PM »
Makes sense. Thanks!