Spousal IRA

If a retired spouse has an existing IRA from her previous job, and now has no current income, can her working spouse make contributions to her existing IRA?



Can a working spouse contribute to a non-working spouse’s IRA, who has an existing IRA from a former job.



As long as her IRA is not a SIMPLE IRA and she will not reach 70.5 this year, a spousal contribution using the earned income of the working spouse can be made. If she has a SIMPLE IRA, she will have to open a traditional IRA to receive the contribution. A spousal contribution can be either to a traditional IRA or a Roth IRA, but more info is needed to determine if a traditional IRA contribution can be deducted. 



Add new comment

Log in or register to post comments