Taxes Q & A- I want to establish a traditional

I want to establish a traditional individual retirement arrangement (IRA) for my spouse, and I need additional information. What is the most I can contribute to a spousal IRA during the tax year?

If both you and your spouse work and both have taxable compensation, each of you can contribute to a separate traditional IRA. The amount that you can contribute to each IRA is subject to a limit. Refer to chapter 1 of Publication 590 for more information on these limits. Contributions can be made even if one spouse has little or no compensation, if you file a joint return. You can make a contribution to a separate IRA for your nonworking spouse if you file a joint return. Your total contribution to both your IRA and the spousal IRA for this year is limited by certain factors such as your taxable compensation, contributions to a traditional or Roth IRA and your age.

For additional information, refer to Tax Topic 451, Individual Retirement Arrangements (IRAs), or Publication 590, Individual Retirement Arrangements (IRAs).

References:

Publication 590, Individual Retirement Arrangements (IRAs)

Tax Topic 451, Individual Retirement Arrangements (IRAs)

Source: www.irs.gov