Can I make Roth IRA contribution after age 71

bilobob · ‎June 3, 2019

I turned 72 in 2018, am taking Minimum IRA contributions from my traditional IRA but not my ROTH IRA. My spouse earned $17k of earned income in 2018 and made a $6500 traditional IRA contribution. Can I make a $6500 ROTH contribution for 2018 based on my spouse's $17k of earned income?

DanaB · ‎June 3, 2019

Yes, you can make a Roth contribution because your spouse had enough earned income.

From the IRS: "If you file a joint return, you may be able to contribute to an IRA even if you did not have taxable compensation as long as your spouse did. The amount of your combined contributions can’t be more than the taxable compensation reported on your joint return."

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DanaB · ‎June 3, 2019

Yes, you can make a Roth contribution because your spouse had enough earned income.

From the IRS: "If you file a joint return, you may be able to contribute to an IRA even if you did not have taxable compensation as long as your spouse did. The amount of your combined contributions can’t be more than the taxable compensation reported on your joint return."