Bvr503
New Member

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To begin, thank you for your initial response (on Spousal IRA).

 

My follow-up concerns are:

   *  Can we contribute (leave the already contributed $1000) to the "current, already opened, and with $1000 2022 contribution" Traditional IRA?

   *  Or do I need to open a brand new "Traditional IRA and designated it as the Spousal IRA"?

   *  Is a "Spousal IRA" a specific legal/IRS term and account?  Or just an IRA for a "spouse"?

 

Basically, can I leave our existing $1000 in my spouse's Traditional IRA?  Or do I need to move/transfer?