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Message
1
Posted on 7/21/17 at 5:46 pm to SLafourche07
quote:
Incorrect. You can only contribute to IRA's if you have earned income.
quote:
Joe Blow W-2's wife doesn't have any income so she can't contribute to an IRA.
Yes they can,
"Spousal IRAs"
"If you file a joint return, you may be able to contribute to an IRA even if you did not have taxable compensation as long as your spouse did. The amount of your combined contributions can’t be more than the taxable compensation reported on your joint return. See the formula in IRS Publication 590-A."
LINK
"A non-working spouse can open a Roth IRA based on the working spouse’s earnings (and the couple’s tax filing status)."
LINK
This post was edited on 7/21/17 at 5:49 pm
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