Spousal IRA Eligibility

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  • Skeemo
    Member
    • Nov 2005
    • 39
    #1

    Spousal IRA Eligibility

    Husband has earnings from Self Employment. He cannot contribute to IRA because he is over age 70½. Spouse does not have earnings, but is under 70½. Can she contribute to a Spousal IRA?
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    • ChEAr$
      Senior Member
      • Dec 2005
      • 3872
      #2
      Well of course she can

      Originally posted by Skeemo
      Husband has earnings from Self Employment. He cannot contribute to IRA because he is over age 70½. Spouse does not have earnings, but is under 70½. Can she contribute to a Spousal IRA?
      Provided income limitations don't get in the way.

      Second straight year wife in a joint return went to contribute to HER IRA, and was told
      since she didn't work, she couldn't do that. So on the phone I had to (patiently)
      inform the bank official that since husband (over 70 1/2) still was a truck driver, that
      she did qualify for spousal IRA>

      Sometimes these bankers are worse than lawyers.

      No wait; I take that back.
      ChEAr$,
      Harlan Lunsford, EA n LA

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