Spousal IRA Contributions
Spousal contributions are also allowed in an IRA if you are married and are filing a joint tax return. Spousal contributions occur when only one spouse has earned income and chooses to make the IRA contribution for the non-working spouse.
Spousal contributions may be deducted from the individual's modified adjusted gross income, which will allow the tax on these funds to be deferred.
This material is for informational purposes only and Scottrade is not responsible for any errors or omissions. The information is subject to change without notice and should not be construed as a recommendation or investment advice. Please consult your tax or legal advisor(s) for questions concerning your personal tax or financial situation.