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Roth or traditional IRA help please?
My wife is a stay at home mom, she does not have any income. Can she still put money in an IRA? Are the rules different if we are talking about a traditional or Roth IRA? Does it matter that I (her husband) have a 401K at work? Are there annual limits? I guess I could put the money in my name, not so sure we want to do that. Any reference material out there? Thanks for any help.
1 Answer
- Anonymous1 decade agoFavorite Answer
Go to irs.gov and get publication 590.
As long as one of you works, you can put money into an IRA under her name.
Yes, there are annual limits (particularly because you *do* have a 401K).