ROTH IRA Contribution question
In the case of one working spouse and one non working spouse, I believe you can use one working spouses income to qualify to contribute to both spouses ROTH IRA. Is this correct? Does it also work if one is retired and no longer has income while one spouse is working? Can I use the working spouses income to contribute to the retired spouses ROTH IRA??
Permalink Submitted by Alan - IRA critic on Fri, 2015-10-02 23:01
Yes, a spousal Roth contribution can be made at any age. Of course, there must be earned income at least equal to the IRA contributions of both spouses, but there also remains a max income limit over which no Roth contributions can be made for either spouse. The current modified AGI figure above which Roth contributions begin to be phased out is 183k.