Greetings, eiandsteve, and welcome. You asked:<<Are there any rules that apply to a previous year's income with regard to opening a spousal IRA? Last year I worked a part time job and made $3k, but this year, and presumably next year, I will not be working. Can my wife fund an IRA for me this year? And if, in the future, I return to work temporarily, will that IRA have to go without a yearly contribution if I exceed the income limit? >>As long as you file a joint return that shows earned income from a job of $4K or more, than either you or your spouse or both may contribute $2K to your own IRA regardless of who earned the money. Prior year income has nothing to do with it, only the earned income in the year of the contribution.Regards..Pixy
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra