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Mayoress asks:

<<I understand that I can only fund 2K per yr in Roth & that it is non-deductable. By further explanation, The Ira my WH (wonderful husband) holds has been "frozen" for 4yrs. i.e. he has not been able to contribute to it as he had no earned income. He recently (1 Jan) became employed part-time, will earn approx. 7K this year, and my ? is: If we roll this current Ira into a Roth ( or even if we leave it alone) can he contribute to IT? Or do we have to leave that as it is and open a new Roth for his new contribution ? >>

Yes, you may contribute to that IRA as it is or after it's been converted to a Roth. You do not need to open a new account to make the contribution.

If you leave the IRA as it is, you might even have a deductible contribution depending on your joint AGI and your husband's participation in a retirement plan through his job. For details, see our IRA area at If you convert to a Roth, then the contribution to that Roth would be nondeductible; however, the money and all earnings would ultimately come back to you free of taxes.

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