Q. IRS Publication 560 says contributions to a SEP or a SIMPLE IRA wont affect the amount an individual can contribute to a Roth or traditional IRA. Is that also true for sole proprietor contributions to an individual 401(k)? Publication 560 is silent on that issue.

Investor

A. Were glad you want to make sure youre eligible for more contributions before you make them. Paying a penalty is never fun.