Contributions by a self-employed individual to a SEP plan for 2019 are limited to the lesser of a percent of net earned income or:
A)$19,000
B)$0
C)$55,000
D)$56,000
E)None of these is correct

Question

Quizplus · Accepted Answer

For the year 2019, contributions by a self-employed individual to a SEP (Simplified Employee Pension) plan are limited to the lesser of a specific percentage of net earned income or $56,000.

Contributions by a Self-Employed Individual to a SEP Plan for 2019