August 3, 2007, Newsletter Issue #57: Your Spouse and your Roth IRA

Tip of the Week

Couples who are married and file joint returns are allowed to fund a Roth IRA for the non-working spouse. They must make sure that their Roth IRA contributions are less then the taxable compensation as shown on their tax return. There is no such thing as a “joint Roth IRA” account. Therefore, each spouse will have his or her own Roth IRA account.

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