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Subject:  Housewife and IRAs Date:  3/4/2004  2:45 PM
Author:  jkburnett Number:  39669 of 88421

I've looked over the posts and read the Fool's IRA articles, but the more I read the more confused I get.

My wife quit her paying job to take care of the kids at home a couple of years ago. I contribute to my company's 401k. Our AGI is $85,000.

Can we contribute $3000 to my wife's IRA (a roll-over IRA from her previous job)? Is it deductible? OR contribute to a ROTH IRA in her name?

In addition, can we contribute $3000 to my Roth IRA?

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