IRA Contributions

Forum|Forum|4 years ago
March 31, 2022
3 replies
31 views

If I have earned income but my wife does not, can I contribute $7000 to her IRA for 2021 if we file jointly?

Bsch4477

Level 15

Yes, if she is age 50 or over.

Ihatetaxes10Author

Level 2

Many thanks.

PattiF

Alumni - Intuit

Yes, you can make a contribution for your wife as long as it isn't more than the taxable compensation reported on the return.

This is a spousal IRA:

If you file a joint return, you may be able to contribute to an IRA even if you didn’t have taxable compensation as long as your spouse did. Each spouse can make a contribution up to the current limit; however, the total of your combined contributions can’t be more than the taxable compensation reported on your joint return. See the Kay Bailey Hutchison Spousal IRA Limit in Publication 590-A.

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