Spousal Contribution
Husband is 73, still working and contributing to his 403b. He has no IRA and therefore is not taking any current RMD. Wife is 64 and she does not work. As the husband still working and has earned income, can the wife still do a spousal contribution to her IRA as she is not yet 70 1/2 ?
Permalink Submitted by Alan - IRA critic on Tue, 2016-11-29 20:02
Yes, she can. But if their joint modified AGI exceeds 184k, her TIRA deduction or Roth contribution is phased out and totally gone at 194k. That would leave only a non deductible TIRA contribution as an option.