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donhoneydew writes:

I am recently married and my wife and I both had previous Roth IRA's. I know we can contribute up to $4000 per year to IRA's, but do both of our names have to appear on each of them if we file a joint return? If we chose what we felt was the best IRA for the both of us, would it have to be in both of our names to contribute the $4000?

I reply:

Congratulations on your mariage! As has been said many time on this board, the "I" in IRA stands for "Individual." You and your wife must maintain separate IRAs, each in your own name. You may contribute as much as $2000 to each (assuming that the two of you have earned income of at least $4000), but may not elect to contribute $4000 to one in "exchange" for contributing nothing to the other. Good luck! --Bob
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