Can I rollover a 401K into an SEP IRA after doing both W2 and 1099 consulting work?

The past year I've been doing two consulting projects. One project is set up as W2 (no benefits) and the other is 1099. Can I rollover an old 401K plan into an SEP IRA and make a large contribution (18%)? Does the W2 work confuse this? Also, if I take a full-time position before the end of the year, does this disqualify me for an SEP IRA?

the rollover doesn't count as a SEP contribution. So you can do both. W2 work doesn't confuse it as they are two separate entities. You'll be limited to 20% of your 1099 income in the SEP contribution regardless of how much your w-2 income. In fact the income is reported on two different schedules of the 1040. w-2 is on page 1 and 1099 income on the Schedule C.

So long as the entitieis are nto related it would not disqualify you by being hired full time elsewhere.

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