Eligibility and Contributions to a Spousal IRA

By Stock Research Pro • February 10th, 2010

A Spousal IRA is an IRA under which contributions are made by an individual for their spouse. A Spousal IRA can be wither a Traditional IRA or a Roth IRA, both of which can create savings opportunities with tax advantages for a spouse with little or no income. The parameters regarding eligibility and contribution limits are the same Spousal IRAs as those for regular IRAs.

Spousal IRA Eligibility

To be eligible for a Spousal IRA, the couple must be legally marries before the end of the tax year and they must be filing joint tax returns. While there are no age restrictions regarding contributions to a Roth IRA, under a Traditional IRA, the working spouse cannot be older than 70.5 years (because this is when minimum distributions begin with a Traditional IRA).

Spousal IRA Contributions

For 2010, the non-working spouse can make contributions up to $5,000 or up to $6,000 if age 50 or over before the end of the year. If, however, the couples’ adjusted gross income is between $167,000 and $177,000, the non-working spouse’s 2010 contribution is phased out. For 2010, the working spouse’s deductible contribution is phased out between an adjusted gross income of $89,000 to $109,000.


The above information is educational and should not be interpreted as financial advice. For advice that is specific to your circumstances, you should consult a financial or tax advisor.

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