Can we both contribute to an retirement plan if I am retired, and my wife is self employed and we're filing a join return.

I know my wife being self employed can contribute, but I am asking if we both can contribute. My income comes from Social Security and width-draw from our retirement plan.

696

1 Best answer

Level 2

Jun 1, 2019 12:25:51 PM

Unfortunately, you must have earned income (wages or self-employment income) to contribute to a retirement plan.

However, you may qualify for a "spousal IRA". Please see this article for more information: Can I contribute to a Spousal IRA

Level 2

Jun 1, 2019 12:25:50 PM

Please see my updated answer regarding Spousal IRA's. There are age limits on contributions as well.

Level 2

Jun 1, 2019 12:25:51 PM

Unfortunately, you must have earned income (wages or self-employment income) to contribute to a retirement plan.

However, you may qualify for a "spousal IRA". Please see this article for more information: Can I contribute to a Spousal IRA

Why sign in to the Community?

Can we both contribute to an retirement plan if I am retired, and my wife is self employed and we're filing a join return.