Guest eggraid101 Posted April 6, 2006 Posted April 6, 2006 If my wife and I are filing jointly, and we make less than 150 k a year, can we each contribute $4000 to a Roth IRA? (making the total contribution $8000). Assuming we open separate Roth IRA accounts, of course. Thanks!
John G Posted April 7, 2006 Posted April 7, 2006 If that is earned income.... answer is yes. Both can qualify based upon the earned income on one spouse. Also, you have 1 week left to make 2005 contributions... so you could effectively fund 4K, 4K, 4K and 4K to cover both of you for two years. Also, if you are over 50 - you can contribute $4,500 each because of the "make-up" provisions.
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