You can make contributions after you reach age 70 1/2, however, you must still receive compensation. There is an exception that allows Roth accounts for nonworking spouses. If you and your spouse file a joint return but one does not work, the employed spouse can open and contribute to a Roth IRA for the unemployed partner.

The maximum amount you can contribute to all IRAs must be the lesser of these:

• Your taxable compensation for the year
• $6,500, the maximum IRA contribution for 2017 with catch-up contributions.

However, to figure the maximum amount you can contribute to a Roth IRA for a year, you must combine the contributions you made to all IRAs. This includes both traditional and Roth IRAs. So, your contribution limit is the lesser of:

• Your maximum allowable contribution minus all IRA contributions for the year.
• Your taxable compensation minus all IRA contributions for the year.

When figuring your contribution limit, don’t subtract employer contributions under a SEP or SIMPLE IRA plan.

The amount you can contribute to a Roth IRA:

• Begins to phase out when your modified AGI reaches $114,000 — or $181,000 if married filing jointly
• Is phased out completely when your income is more than $129,000 — or $191,000 if married filing jointly

Married couples filing separately can’t make Roth IRA contributions if both of these are true:

• Your modified AGI is more than $10,000.
• You lived together at any time during the year.