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Get your taxes done using TurboTax
Hello @DMS3470 and thanks for the question.
An IRA is an Individual Retirement Account, meaning that it belongs only to one individual.
While you cannot both contribute to the same IRA, you could both make IRA contributions for the same year.
You can find more information in the following TurboTax article under the section titled "The Roth IRA option"
https://turbotax.intuit.com/tax-tips/retirement/boost-your-retirement-savings/L3lryQHVz
As for contributing for the prior year, contributions can be made up to the tax filing deadline, which for 2021 was April 18th, 2022.
I hope that I have answered your question DMS3470.
Please reach out again if you need additional information.
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‎June 8, 2022
3:48 PM
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