Overall, a spousal roth ira is not that different from a typical roth ira. I can look at my wife's roth and traditional ira accounts from my login and vice versa. This is only possible if the couple.
What Is a Spousal Roth IRA?
Key aspects of spousal iras:
For 2024, married couples with modified adjusted gross income.
I had to log in using her username/password and grant myself permission to see her accounts. There are no age limits on spousal ira. However, as is the case with regular roth iras, spousal roth iras are subject to income limits on contributions. What is a spousal ira?
1) the spouse of a decedent will be treated as having acquired decedent’s iras directly from the decedent. The irs has published a private letter ruling on section 408 ruling that: There are two main types of spousal iras: Funding a spousal roth ira.
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$75k is contributions and $125k is earnings/appreciation.
Here are the roth ira income limits for 2024 and 2025, as well as how to calculate your magi to figure out if you qualify. It can be a traditional or a roth ira.
