Roth IRA contribution
If a person earns $3,500, I know they can contribute 100% of compensation. The spouse does not work, how much can you put in the spousal IRA?
Frank
If a person earns $3,500, I know they can contribute 100% of compensation. The spouse does not work, how much can you put in the spousal IRA?
Frank
Permalink Submitted by Alan - IRA critic on Tue, 2024-07-09 20:29
The maximum total contribution is 3,500. That could be made in any combination between their IRAs or Roth IRAs. For example, 1,750 could be contributed to each spouse’s Roth, or 3500 to one spouse’s Roth if nothing was contributed to the other spouse’s Roth. A joint tax return is required.