Announcement

Collapse
No announcement yet.

Spousal IRA -Disabled? No Earned Income

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Spousal IRA -Disabled? No Earned Income

    Need a quick reply on this if possible. Taxpayer is disabled and draws social security only. Wife is in a pension plan and earns approximately $165,000 as an attorney. She contributed $5000 to the husband's IRA account. Would this contribution be allowed seeing he has no earned income and if so, would it be deductible?

    #2
    in looking at TTB page 13-9, spousal IRA $5000 can be set up even with no income, but wife's income looks like over the phaseout amount , so i don't think it would be deductible

    Comment

    Working...
    X