|
#2
12-15-2005, 03:49 PM
| |||
| |||
 Re: Non-working spousal IRA contribution Steve, for 2005 for people over 50, I'm pretty sure the limit is $4500 each. See for example: http://www.finance.cch.com/sohoApplets/RegularIRA.asp http://personal.fidelity.com/product...nt/getstart/ab outira.shtml (see paragraph near bottom) Be careful of the income restrictions, like the other posters are saying. Your wife would have to have at least $9000 of income. "Steve M" <stephen.moore[at]ipa.net> wrote - quote - > I have been umemployed the last 12 months (all of 2005). My wife does > not have a retirement program at work. Can we both contribute 3,500 > (over 50) to our individual IRA's for 2005? |
|
#1
12-15-2005, 02:49 PM
| |||
| |||
| Re: Non-working spousal IRA contribution Steve M <stephen.moore[at]ipa.net> writes: - quote - > I have been umemployed the last 12 months (all of 2005). My wife does
As long as your wife has more than $7,000 in earned income, yes.> not have a retirement program at work. Can we both contribute 3,500 > (over 50) to our individual IRA's for 2005? -- Rich Carreiro rlcarr[at]animato.arlington.ma.us |
|
12-15-2005, 02:42 PM
| |||
| |||
| Re: Non-working spousal IRA contribution Steve M wrote: - quote - > I have been umemployed the last 12 months (all of 2005). My wife does
Yes, but the total IRA contribution can't exceed total employment> not have a retirement program at work. Can we both contribute 3,500 > (over 50) to our individual IRA's for 2005? income. Tax deductibility depends on income. -- Ron |
|
#-1
12-15-2005, 12:09 PM
| |||
| |||
| Non-working spousal IRA contribution I have been umemployed the last 12 months (all of 2005). My wife does not have a retirement program at work. Can we both contribute 3,500 (over 50) to our individual IRA's for 2005? tia |
| Tags |
| contribution, ira, nonworking, spousal |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| Spousal contribution in IRA Ron: I am planning to make a spousal contribution towards a Traditional IRA. I would like to know, for spousal contribution, does my wife (who is not... | Financial Planning | 2 | 03-20-2005 01:54 PM | |
| 2004 Roth IRA Spousal Contribution Limit Silicon Valley Dude: A California married couple filing jointly wants to maximize their allowable 2004 contributions to their Roth IRAs. She is over 50, he isn't. If... | Taxes | 1 | 01-19-2005 02:32 PM | |
| Any Advantage for Separate IRA Spousal and Non-Spousal Accounts jay1000: Under the old IRA regulations I had a separate IRA account for my spouse and each non-spousal beneficiary. Under the new regs it is clear that I... | Financial Planning | 7 | 04-29-2004 03:03 PM | |
| Spousal Partnership Bill Lloyd: A married couple had a business in Canada. They are both long term residents of Canada but she is a US citizen and husband is Canadian. They were... | Taxes | 5 | 02-16-2004 08:48 PM | |
| Spousal Exemption Bill Lloyd: Situation is taxpayer is a US citizen resident in Canada and married to a Canadian citizen. She receives a distribution from her deceased mothers... | Taxes | 3 | 02-12-2004 10:27 AM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
