Can A Spouse With No Income Contribute To A Roth IRA?
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaThere are income restrictions that limit who can contribute to a Roth IRA. If those restrictions are met the spouse can contribute $5,500 into a Roth IRA every year. This is a great way to put money into retirement that can be withdrawn income tax free and that includes any growth on the product.Answered on August 15, 2014flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is a great question! But I have to admit that I'm a bit confused. If the spouse has no income, what is there that they can contribute? There are also limits set upon the amount that can be contributed, based upon your income. You cannot contribute more than your declared income, and if your spouse doesn't have one? You can contribute to theirs, however. Talk to your banker, or Roth administrator, and have them walk you through what you want to do, ok? Thanks for asking!Answered on August 22, 2014flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
.JPG){kind=avatar}
