TAX TREATMENT OF CERTAIN NONTRADE OR BUSINESS SEP CONTRIBUTIONS.

SEC. 118. TAX TREATMENT OF CERTAIN NONTRADE OR BUSINESS SEP CONTRIBUTIONS.(a) In General.—Subparagraph (B) of section 4972(c)(6) is amended—(1) by striking “408(p)) or” and inserting “408(p)),”; and (2) by inserting “, or a simplified employee pension (within the meaning of section 408(k))” after “401(k)(11))”. (b) Effective Date.—(1) In general.—The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act. (2) No inference.—Nothing in the amendments made by this section shall be construed to infer the proper treatment under section 4972(c)(6) of the Internal Revenue Code of 1986 of nondeductible contributions to which the amendments made by this section do not apply.