Hi, we are married and I work but my wife does not. We are above the limit for Roth IRAs so we plan to contribute the max to non-deductible IRAs.
Does it matter which spouse makes the IRA contributions? I couldn't find anything that discussed this specifically. My wife has more cash in her accounts at the moment so it would be slightly simpler to make the contributions from her account but I'm not sure if you can contribute to an account in the spouse's name or to your own account if you don't have earned income.
Thanks for confirming!
Does it matter which spouse makes the IRA contributions? I couldn't find anything that discussed this specifically. My wife has more cash in her accounts at the moment so it would be slightly simpler to make the contributions from her account but I'm not sure if you can contribute to an account in the spouse's name or to your own account if you don't have earned income.
Thanks for confirming!
Statistics: Posted by curiouskitty — Mon Mar 04, 2024 8:07 pm — Replies 4 — Views 278