Non Working Spouse over age 70
Will the working spouse be able to contribute, and deduct, to a non-working spouse IRA if the non-working spouse is over age 70 under the SECURE act?
Will the working spouse be able to contribute, and deduct, to a non-working spouse IRA if the non-working spouse is over age 70 under the SECURE act?
Permalink Submitted by Alan - IRA critic on Tue, 2020-01-07 15:11
Yes, spousal contribution rules remain the same. However, if any QCDs are planned in the future be aware of the “anti abuse” provision in the Secure Act that reduces QCDs by the amount of deductible contributions done in the 70.5 year or after. This reduction applies separately to QCDs made by each spouse.