spousal TIRA contributiion

Husband age 62 retired and has TIRA from working years, if his wife is still working can she make spousal TIRA contribution into his existing TIRA or will they have to set up a separate IRA account for spousal contribution?



A spousal IRA contribution can be made to the husband’s existing TIRA account or to a Roth IRA. If the wife is participating in a workplace retirement plan, there are joint income limits over which a TIRA contribution cannot be deducted.



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