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Hello. First post on this board. I know, I procrastinate. Yes, it is a little late. I hope you will help anyway.

I am triumphant to have gotten last year's taxes to the accountant two weeks ago. So I am trying to do an estimate for the 99 extension to file. I have gotten this far, to think maybe I could have an IRA as a spousal IRA but I am brain-dead from all my research. Can you help me?

My husband is self-employed. He may or may not make a profit in his business for 99. IF he shows a profit, I will put all he is allowed into his SEP-IRA (?15% of net I think is all that is allowed, but it helps).

I am disabled, not EARNING income, but receiving SS disability checks and private disability income and dividend/interest. I tried -- I looked at every angle, but even though both diasbility incomes are taxable (and the tax form box says earned income) nothing I have coming in to me seems to be earned income, therefore leading me to give up on the idea of putting away any $ to an IRA.

Then muttering around the web this weekend I saw info on spousal IRA, which sparked my interest, maybe I CAN put $ in "my" IRA based on my husband's income!!!???

We have the cash, do we have the right?

I read IRA instructions, I searched the Fool. My head hurts!! OK enough histrionics, the questions:

If my husband makes a profit in his self-employed business, he can do a SEP-IRA, right? How much can he put in the SEP-IRA (where is info re: this)?

After he does the SEP-IRA to the limit, can I ALSO do a spousal IRA? Many sources point to allowing me to double his SEP-IRA contribution (up to 2000 x 2 people). Do you agree? For how much? Are there KEY WORDS or FORM NUMBERS to use with my broker (Fidelity) to convince them to take my money?

We are filing an extension to file. I think that give my DH an extension on his SEP-IRA. Am I right?

With the extension to file, do I get an extension to open a spousal IRA? I thougth so, but please confirm.

Enough now. We have 12 hours to go to deadline. Any help (especially for the deadlines to contribute, the firmest limit) would be most appreciated.

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