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I am self-employed, but my business took a loss in 2016. Spouse is covered by retirement plan at work. Can I
still contribute to my IRAs (trad and Roth) for 2016? We are both 65+ but under 70.5.
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June 4, 2019
9:39 PM
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Retirement tax questions
Although you yourself do not have eligible compensation to support an IRA contribution, you can make a spousal traditional or Roth IRA contribution for 2016 based on your spouse's eligible compensation in 2016:
Kay Bailey Hutchison Spousal IRA: https://www.irs.gov/publications/p590a/ch01.html#en_US_2016_publink1000230444
June 4, 2019
9:40 PM