On Apr 14, 2:57 pm, Harlan Lunsford <luns...[at]bellsouth.net> wrote:

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Only logical reason I can think of is to get social security credits.

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lunstax[at]bellsouth.net (Harlan*Lunsford) posted:

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Services, Harlan :-)

(Receptionist? Housekeeper? Cook? Nurse?
Companion? Bookkeeper? Assistant -- aka Vice President? :-)

Bill

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My interest wrote:
- quote -


ChEAr$,
Harlan Lunsford, EA n LA

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

myinterest[at]gmail.com (My*interest) posted:

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When filing MFJ, if the husband has wage income (or Schedule C income),
IRA contributions may be made for the wife, subject to AGI limitations.
The housewife herself does not need to have any direct income, in such
an instance.
Investment income (interest, dividends) does not create a qualification
for IRAs.
No need for the husband to pay the wife, if filing MFJ -- as his earned
income qualifies the couple (however, if he did hire her for his
self-employment business, then _Yes_, SS and Medicare taxes would be due
-- either via normal payroll deduction with employer paying half, or as
"independent contractor" -- where the wife's SS & Medicare obligations
would be paid via Schedule SE).

Bill

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Is there any way to make IRA contribution (any type) for a housewife
who does not have any wage income for the whole year?

Some additional questions:
- Does investment income count? (e.g. interest, dividend)
- If the husband pays the wife, does the husband needs also pay SSN
tax etc?

Thanks.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >