Spousal IRA clarification needed......

[FreeAsTheBreeze]

I am retired and receive a pension. My husband is still working and we will be filing a joint return. Is it possible for me to purchase a Roth IRA using the rule that allows one to rely on their spouse's income? ( the so called spousal IRA) I know my pension does not qualify as earned income or eligible compensation for IRA purposes, but I cannot find anything that would prohibit me from using his income to purchase the so called spousal Roth IRA. Am I wrong? (sorry if this is a stupid question, but it did appear to me after reading the info I could find online that I might be eligible) Thanks for your help.

[MichaelB]

I think so as long as you meet the remaining eligibility requirements. No such thing as a stupid question, especially when it is about tax.

[sengsational]

I have been putting the max amount in my spouse's Roth for many years, and she hasn't worked outside the home in 20 years. The IRS hasn't arrested me yet, hehe. Besides, I'd just blame block tax cut software...it lets me do it.

[Alan]

Quote:

Originally Posted by MichaelB I think so as long as you meet the remaining eligibility requirements. No such thing as a stupid question, especially when it is about tax.

+1

We made spousal IRA deposits during years when DW was not working.

[pb4uski]

+2

[kz]

DH works a part-time job (that he likes) which is enough "earned income" that we can contribute to his Roth and my spousal Roth each yr. As long as he likes his job we plan to continue this for a few more yrs.