I have a client who deferred $25,000 in 2019 to his 401k plan via his W-2.
He also received a 1099 for $180,000 for another job and wants to contribute to a SEP plan. Is he able to contribute 25% of the $180,000 to a SEP plan....or is the overall limit maxed at $56,000 (meaning the max he can contribute to the SEP is $56,000 less the $25,000 he contributed to his 401k)?
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I searched the web, using:
sep and 401k two different employers
and it's amazing what is there. Example:
oops, wrong update...
Thanks for the "non" answer!
The Link I gave has an answer, but perhaps you want a different one. That's why you should do your own Search. If you do your own web search on that phrase, you will see the link I provided and lots of others. All of which allow you to learn about this yourself. They have the scenarios you describe as well as the tax treatment info you seek.
And please don't be rude to your peer users that volunteer to be helpful on these forums. My "non-answer" involved some time and effort on my part. The search results include worksheets for you to do the math on behalf of your client to get the specific answer to your question. You realize the SE income has a computational process for the SEP, right? We can't do your math for you.
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