A retiree receiving SS takes a short term consulting position & earns $7500, which is the only earned income for the year. Other than the couple's SS payments their only source of income is from dividend distributions. The couple files a joint return. The spouse does not hold a paying position. If the couple meets the income eligibility requirements, can each contribute $4500 to Roth IRAs for 2005? Note that IRA (Roth and Traditional) limit for 2006 is $4000 + a catchup, for over-50s, of $1000 -- a total of $5000.http://www.fool.com/taxes/2001/taxes010622.htm
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