Yes, depending on income
Kay Bailey Hutchison Spousal IRA Limit
For 2016, 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:
- $5,500 ($6,500 if you are age 50 or older), or
- The total compensation includible in the gross income of
both you and your spouse for the year, reduced by the following two
amounts.
- Your spouse's IRA contribution for the year to a
traditional IRA.
- Any contributions for the year to a Roth IRA on behalf of
your spouse.
This means that the
total combined contributions that can be made for the year to your IRA and your
spouse's IRA can be as much as $11,000 ($12,000 if only one of you is age 50 or
older or $13,000 if both of you are age 50 or older).
Note.
This traditional IRA limit is reduced by any
contributions to a section 501(c)(18) plan (generally, a pension plan created
before June 25, 1959, that is funded entirely by employee contributions).
Example.
Kristin, a full-time
student with no taxable compensation, marries Carl during the year. Neither of
them was age 50 by the end of 2016. For the year, Carl has taxable compensation
of $30,000. He plans to contribute (and deduct) $5,500 to a traditional IRA. If
he and Kristin file a joint return, each can contribute $5,500 to a traditional
IRA. This is because Kristin, who has no compensation, can add Carl's
compensation, reduced by the amount of his IRA contribution ($30,000 ? $5,500 = $24,500), to her own
compensation (-0-) to figure her maximum contribution to a traditional IRA. In
her case, $5,500 is her contribution limit, because $5,500 is less than $24,500
(her compensation for purposes of figuring her contribution limit).
From <https://www.irs.gov/publications/p590a/ch01.html#en_US_2016_publink1000230412>
