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Get your taxes done using TurboTax
"Spousal IRA" simply means that a person may use her spouse's earned income to qualify to make an IRA contribution. The IRA is just a regular IRA in her name. Nowhere is it designated as "spousal". You can make a $6000 contribution to her IRA and a $6000 contribution to your IRA, as long as you have at least $12,000 (6K + 6K) of earned income (wages or net self employment).
‎November 17, 2022
8:47 AM