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Yes on all fronts, as long as you file a joint return.

And the total earned income has to be as much as the total contributed to the Roth IRAs.

(So if you only had $4000 of total earned income you wouldn't be able to put $4000 in each account, instead you would have to share it between the two accounts.)

The contribution limit is $4000 for 2005 IRAs, $4500 if the contributor is age 50 or older.
The limit goes up again in 2007.

- Megan
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