IRA Help?

[Unregistered]

Husband has wages of 65,600 and participates fully in a company 401k. Wife is self-employed with net income of 51,900 and has set up a Simple IRA. Filing MFJ. In addition, they have been contributing 333 a month (4,000 year)to a Roth IRA. Not sure at this time who's name the Roth is under. Is this possible? The husband doesn't qualify for any type of IRA, does he? The wife can't have both a Simple and a Roth, can she? Comments appreciated. Thanks.

[KJ Judd]

Yes, you can as long as they are under the modified adjusted gross income limit. You need to confirm the limits. I believe you can go to $150,000 for MFJ with phase out at $160,000 in 2005.