Spousal IRA

My client is employed as a Dr with the Federal Govt. His wife is not employed. Can he contribute $6000 toward a spousal IRA for his wife?

Thank you,
Marshall Howard
800-995-4782
[email protected]



Yes, as long as his wife will not reach 70.5 in the year for which the contribution is allocated, unless made to a Roth IRA.

It might have to be made as a non deductible Traditional IRA contribution, as those do not have income limits. If the contribution was instead of be made to her Roth IRA or as a deductible contribution to her TIRA, the modified AGI income limits may come into play. These contributions for her would start to be phased out with 167,000 of modified AGI for 2010 and would be completely phased out at 177,000. Those figures are $1,000 less for 2009 contributions.



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