Can I put $5000 or is she only allowed to put up to what she makes?
2007-05-02 15:20:37 · 3 answers · asked by old & free 1 in Business & Finance ➔ Taxes ➔ United States
Both you and she can contribute $5000 to a Roth IRA.
2007-05-02 15:23:48 · answer #1 · answered by Still reading 6 · 1⤊ 0⤋
You also need to consider whether a Roth makes sense at your age. Most commentators I have heard say Roths are not the best option for the majority of cases.
2007-05-06 16:35:37 · answer #2 · answered by dwagsfive 2 · 0⤊ 0⤋
While the maximum IRA contribution is limited to the lesser of earned income or the ceiling amounts, it's different for married couples. Married couples can each contribute to an IRA even if only one had a job for the year if the working spouse earns enough to cover the IRA contributions for both. Therefore you can each contribute the maximum $5,000 to your IRAs.
2007-05-02 23:45:40 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋