dmertz
Level 15

Retirement tax questions

Everything said in the reference you provided is correct, but it does not list all of the requirements.

 

Follow the reference to the Kay Baily Hutchison Spousal IRA Limit section of IRS Pub 590-A that is in what you quoted.

 

https://www.irs.gov/publications/p590a#en_US_2024_publink1000230412

 

The first sentence there says:  

 

"For 2024, if you file a joint return and your taxable compensation is less than that of your spouse, the most that can be contributed for the year to your IRA is the smaller of the following two amounts."  [emphasis added]

 

This requirement that I highlighted is in section 219(c)(2) of the tax code.

 

In this case, your spouse is the one eligible to make the the spousal IRA contribution (subject to your and your spouse's combined contributions not exceeding combined compensation).