Greetings, Kevntrace, and welcome. You wrote:<<I've just started to research IRAs and I have a couple of questions;- are you limited to contributing to an IRA based on income (ie if income is greater than a certain level, you can't contribute to an IRA for the tax year)? If so, what is that income level?>>For a comprehensive overview of IRAs, see our IRA area at http://www.fool.com/money/allaboutiras/allaboutiras.htm . You income may determine whether you may deduct contributions to a traditional IRA or use a Roth IRA, but as long as you have earned income and are younger than age 70 1/2, then you may always use a nondeductible traditional IRA.<<- my spouse does not work, so I believe I can open a spouse IRA as well as an IRA for myself. Can the spousal IRA be a Roth IRA? How do I nominate an IRA to be a spousal IRA?>>That's correct. All you have to do is open one in your spouse's name and make the deposit.<<- i intend to open an IRA account this year (and a spousal IRA). Can I contribute the full $2000 to each and have the money considered under the 1999 tax year?>>Yes, provided you do so no later than April 17. Also, to be safe you should ensure the contribution is clearly identified by you in writing to the provider as one that is being made for the 1999 tax-yearRegards..Pixy
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