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i have a couple where the husband makes around 500,000. the wife does not work. obviousely the husband is not eligible for a roth IRA contribution. can he contribute for his wife in her account? is there any income limits for the spouse?
ROTH contribution eligibility phases out on MFJ at $179,000 AGI. Do the Kabuki dance (JohnH's term) and have her contribute to a spousal, traditional, non-deductible IRA and then convert to ROTH, if that is what they want. Fast.
Complete 8606.
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