Roth Iras-You And Your SpouseThis Ira (Spousal Ira) really applies only to married couples who file a joint income tax return. For those married couples who file separate returns, the phase out begins at $0 which makes it impossible to contribute the yearly maximum allowed. To qualify for a full contribution to a Roth Ira your allowed joint income must be $156,000 or less. The working spouse may contribute fully to their spouses Roth Ira and to their own. Even if one spouse has little or no income you will be treate as though you have for the purposes of the Roth Ira.
It is not a necessity that the money come from the working spouse, it can come from an inheritance or other income. The source, in this instance doesn't matter. |