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    #1

    Spousal IRA

    Client's wife is employed with a retirement plan. Husband has no earned income but does draw out of a IRA on a 1099R form. He is 61. Can the husband contribute the $6000 for 2011.
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    #2
    Originally posted by zeros View Post
    Client's wife is employed with a retirement plan. Husband has no earned income but does draw out of a IRA on a 1099R form. He is 61. Can the husband contribute the $6000 for 2011.
    Assuming their agi is less than phaseout amounts, yes, he may contribute by virtue of it being a spousal IRA.
    ChEAr$,
    Harlan Lunsford, EA n LA

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      #3
      Adjust Gross Income

      Originally posted by ChEAr$ View Post
      Assuming their agi is less than phaseout amounts, yes, he may contribute by virtue of it being a spousal IRA.
      AGI = $57,960.

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