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SEP funding after death
originally posted: 11/22/2006
reposted: 2/18/2011 This post has not been recently
reviewed or revised by the author and may be out of date. If in doubt,
please send a new question or ask for an update.
Q:
My husband was self-employed but died last year. Can I fund my late-husband's SEP after his death and take the deduction on our final joint tax return?
A:
This question is selected because of the difference of opinion offered by the IRS and tax professionals. In other words, depending on who you ask and when, you will get different answers.
Bottom line is that there is probably little net tangible after-tax benefit to doing this, but if you do, it is unlikely to be questioned on examination. And then, even if it is disallowed, the consequences are minimal. So in the end, it really is not an important issue in your larger financial picture.
Summary
More resources:
www.IRArolloveradviser.com
