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Author: rjm1 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76082  
Subject: Re: Spousal IRA Date: 2/24/1999 10:09 PM
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I would like to set up an IRA account for my
non-working spouse. According to your "Foolish
Retirement Plan Primer" this is called a "Spousal
IRA". It states that the non-working spouse has to
make less than $250/year during the time the
contributions (max $2,000/year) take place. So long
both spouses file a j


New rules starting in 1998.

You and your wife can each put 2,000 in an IRA. Subject to income limitations etc. but the 250 rule is gone. Before you and wife could put in a total of 2250. Now the limit is 4,000.
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