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Greetings, Robinrox, and welcome. You asked:

<<1.) I am a nonworking spouse. My husband makes $400K/yr and is involved in a 401K. I know we cannot participate in a Roth or a tax deductible traditional IRA. Question: Can I as a nonworking spouse contribute to a nondeductibe traditional IRA? Can my husband?>>

Provided you are both under the age of 70 1/2, then both of you may contribute $2K each to your separate, nondeductible traditional IRAs. Those contributions would be based on your spouse's earned compensation.

<<2.) I trade constantly in my online Ira accounts. When I make trades within my online IRA account, can I cover my trading costs with non-IRA money, or do my trading fees have to be accounted for with my contribution money. Do I need to keep a detailed list for accounting purposes? >>

All trading fees must be paid for with money inside the IRA. If you pay for them with non-IRA money, then that payment would be considered as part of your annual contribution in the year of payment. That could lead to an excess contribution for the year, and that leads to annual penalties from the IRS each and every year until the money is withdrawn.

Also, there is no need to keep a record of trades inside an IRA for income tax purposes as their is no difference between long-term or short-term gains for tax purposes. All gains will be taxed at the time of withdrawal at ordinary income tax rates in effect that year.

For details, see out IRA area at

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