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Retirement tax questions
You have stated:
"Only the spouse with the lower compensation is eligible to use the other spouse's compensation to support their IRA contribution"
I cannot find anywhere on the internet what the maximum "lower" compensation is!
For example, what if my wife is employed with an on-call job and made $200 (W2 wages) in 2022? Does she still qualify for the spousal IRA (assuming I qualify with all the other stipulations)? Or does she need to be NOT BE EMPLOYED?
‎February 4, 2023
9:11 AM