Definitions for "spousal IRA"
Related Terms:
Spousal rrsp, Traditional ira, Individual retirement account, Ira, Individual retirement arrangement, Roth ira, Rrsp, A traditional ira, A roth ira, Individual retirement accounts, Tsa, Rollover ira, Tda , Nondeductible contribution, Ira rollover, Direct rollover, Registered retirement savings plan, Sra, Keogh account, Rollover, Keogh plan, Conversion, Registered retirement income fund, Undeducted contributions, Non-qualified annuity, Conduit ira, Sep ira, Rrif, Qualified distribution, The roth ira, Qualified annuity, Eligible rollover distribution, Keogh, Life income fund, Direct transfer, Sep-ira, Simplified employee pension, Lrif, Lif, Section 401 plan, Required minimum distribution, A simple ira, Rmd, Locked-in retirement account, Retirement account, Non-qualified retirement plan, Stretch ira, Qualified retirement plan, Premature distribution, Tax-deferred annuity
A traditional IRA or Roth IRA set up by a married person in the name of his/her...
An individual retirement account in the name of an unemployed spouse.
Type of Individual Retirement Account that allows non-working spouses to fund an IRA, regardless of other spouse's retirement arrangements.
IRA opened in the name of a non-working spouse.
An IRA to which you can shelter up to an additional $2000 per year, for a total deduction of $4000.
an additional contribution may be made to an IRA by a worker whose spouse has little or no earned income for the year
a way for non-working spouses or working spouses who are not covered by an employer-sponsored plan to have a Roth or Traditional IRA, even if they have little or no earned income
An IRA that is established for the nonworking spouse of an employee who qualifies for an IRA.
A working spouse may contribute to an Individual Retirement Account for a non-working spouse up to $3,000 annually. You must file a joint return and have adjusted gross income below $160,000.
Not everyone is allowed to deposit up to $2,000 in an IRA. If a person is not working and earning an income, the amount that they may deposit is up to $250 per year. To establish a Spousal IRA the person must be married by the end of the tax year. p 82
An IRA established by an individual for his/her non-working spouse.
Spousal Individual Retirement Account. A working spouse may contribute for a non-working spouse up to $3,000 annually. You must file a joint return and have adjusted gross income below $160,000.
An Individual Retirement Account (IRA) established by a working spouse for his or her non-working spouse. Spousal IRAs were created by the Tax Reform Act of 1976.
an individual retirement account that can be established for a non-working spouse.
An IRA funded by a married taxpayer in the name of his or her spouse who has less than $2000 in annual compensation.
An IRA designed for a couple when one spouse has no earned income. The maximum combined contribution that can be made each year to an IRA and a spousal IRA is $8,000 (in 2005 through 2007) or 100 percent of earned income, whichever is less. This total may be split between the two IRAs as the couple wishes, provided the contribution to either IRA does not exceed $4,000.
A traditional or Roth IRA funded by a married taxpayer in the name of his or her spouse who has insufficient compensation to fund the maximum allowable annual IRA contribution. The couple must file a joint tax return for the year of the contribution. The working spouse may contribute up to the maximum annual limits to both the spousal and his/her own traditional or Roth IRAs, provided certain conditions are met.
An individual retirement arrangement for a nonworking spouse funded with contributions from the working spouse. The Internal Revenue Service sets a limit on the combined amount a married couple may contribute to a traditional and spousal IRA.
An individual retirement account (IRA) opened in the name of a nonworking spouse. A married couple that establishes such an IRA may contribute up to $2,250 between two IRAs as long as neither account exceeds a contribution of $2,000. If both spouses were employed, they could each contribute up to $2,000 for a combined total of $4,000.
An IRA set up by a taxpayer whose spouse has little or no compensation for the benefit of that spouse. The designation "spousal" is significant for tax purposes only. There is no connection between a Spousal IRA and the other spouse's IRA, and no IRA may be jointly owned.