can spouse contribute to ira
Yes. You may make a Traditional IRA contribution to your spouse's Traditional IRA because you have eligible compensation. There is no income limit for contributing to a Traditional IRA.ou may make a Traditional IRA contribution to your spouse's Traditional IRA because you have eligible compensation. There is no income limit for contributing to a Traditional IRA.
Generally, you can contribute up to $5,000 to an IRA in 2011 ($6,000 if you'll be age 50 or older by the end of the year), as long as you have taxable compensation at least equal to the amount of your IRA contribution.he spousal IRA rule doesn't change any of the other rules that generally apply to IRAs. You can contribute to a traditional IRA, to a Roth IRA, or both. However, you can't make regular contributions to a traditional IRA for the year you turn 70Â½ or thereafter.