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I recently rolled my wife's 401k to a traditional IRA. I have also recently opened a Roth IRA in my name. Since my wife is no longer working, and therefore not generating earned income, can a $2,000 annual contribution be made to both IRAs? Can I also open an education IRA and make a $500 annual contribution. If so, that means we can contribute $4,500 (with $2,000 of it being tax-deductible) to IRA accounts each year? Any insight is appreciated.
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