The rule for Simple IRA is my contribution for SIMPLE must not exceed my net self-employment income. But it is unclear to me if a Roth contribution can be made if I make a Simple contribution that is the total of my self-employment income.
For example, If net SE income is, say $8000 and I make a SIMPLE contribution of $8000, can I also make a maximum contribution to a Roth?
Assume age 60 & SE income $8000, can a contribution then be made as follows:
$8000 Simple (my net qualified income) $3000 Roth (or TIRA) $3000 Spousal Roth
Or must the Roth and Simple contributions NOT EXCEED the net self-employment income? Thus, something like $2000 Simple, $3000 Roth, $3000 spousal Roth.
Thanks