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I'm not clear on what qualifies for contribution. My husband is having to take a medical leave and possibly medical retirement. Will that prevent us from contributing to our IRA's?
What is my next best option?

McPM
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Greetings, McPM, and welcome. You asked:

<<I'm not clear on what qualifies for contribution. My husband is having to take a medical leave and possibly medical retirement. Will that prevent us from contributing to our IRA's?
What is my next best option?>>


Annual contributions to an IRA may come from earned income only, and that means wages from a job. Disability pay or retirement pensions do not count as income for the purposes of an IRA contribution. If your husband is not working, then he may not contribute to an IRA. The same goes for your contribution assuming you are unemployed as well. However, if you are working, then both of you may contribute to an IRA based on your earned income.

Regards..Pixy
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Pixy,

Please clarify the IRA deposit rule. I RE'd this year. My wife is still working. I know she can deposit to her IRA, but can I using her income?

Thanks
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Greetings, Omalleypm, and welcome. You asked:

Please clarify the IRA deposit rule. I RE'd this year. My wife is still working. I know she can deposit to her IRA, but can I using her income?

Yes you can. As long as you file a joint return and at least one of you has the earned compensation to justify the contribution, then you both may contribute to your own IRAs.

Regards..Pixy
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