Spousal Roth contribution
I have a client where both the working husband and self employed wife are in their 40’s.
The Self Employed wife has a minimal amount of SE Income—less than $2,000 gross. The working husband has W-2 income of over $150k and contributed about $16k of employee contributions to his 401k.
Will the self employed wife qualify for a full $5,500 Roth contribution based on the husband’s wages (even though her SE net income is a small loss)? Thanks
Permalink Submitted by Alan - IRA critic on Thu, 2019-01-10 19:41
Yes, the wife can make a 2018 spousal Roth contribution using husband’s W-2 income. The other test is that their 2018 modified AGI is not too high for regular Roth contributions, and it is under the limit as long as they file jointly.