2006-09-07 07:51:33 · 6 answers · asked by MG 1 in Business & Finance ➔ Personal Finance
YES correct. (if you are eligible to contribute to an IRA, ROTH or Traditional)
2006-09-07 07:59:27 · answer #1 · answered by miketorse 5 · 0⤊ 0⤋
Yes, as long as you and your wife are two income earners, or one contribute for the other under spousal IRA. The answer is yes as long as the limit is 8k
2006-09-07 14:33:50 · answer #2 · answered by Hoa N 6 · 0⤊ 0⤋
yep - pay attention to income limits and if you are in a qualified retirement plan from an employer as those can negate your ability to contribute to Roth IRA
2006-09-07 09:20:00 · answer #3 · answered by larry n 4 · 0⤊ 0⤋
Yes - each may contribute up to the lesser of $4,000 or taxable compensation for the year 2006.
If either of you was 50 years or older before January 1, 2007, you may contribute up to the lesser of $5,000 or taxable compensation for the year 2006.
2006-09-07 08:03:31 · answer #4 · answered by Prof. Cochise 7 · 1⤊ 0⤋
Yes, assuming you don't make more than the income limit & you both have earned income. My wife & I do it every year...
2006-09-07 09:41:47 · answer #5 · answered by chh945s 2 · 0⤊ 0⤋
yeah you can check with your tax advisor and they will tell you how usually H&R Block can help you with that
2006-09-07 07:58:08 · answer #6 · answered by koolnsweett 3 · 0⤊ 0⤋