Spouse Back Door Roth IRA Question

[doc01]

Hello, I recently got married ( July 2016).  I have contributed to my Back Door Roth IRA ($5500) in May of $2016.   My question is can I  contribute an additional $5500 into a back door roth for my wife for the calendar year 2016?  We will be filing jointly for our 2016 taxes.

 

Also,   I set up my vanguard back door as outlined in the WCI( traditional IRA converted to roth next day).  Do I need to set up an additional TIRA and Roth Account for my wife? Can I do that under my own vanguard account or will she need to open a Vanguard account under her name?

 

Thanks a lot for your help

 

[jfoxcpacfp]

doc01 wrote:

Hello, I recently got married ( July 2016).  I have contributed to my Back Door Roth IRA ($5500) in May of $2016.   My question is can I  contribute an additional $5500 into a back door roth for my wife for the calendar year 2016?  We will be filing jointly for our 2016 taxes.

Also,   I set up my vanguard back door as outlined in the WCI( traditional IRA converted to roth next day).  Do I need to set up an additional TIRA and Roth Account for my wife? Can I do that under my own vanguard account or will she need to open a Vanguard account under her name.

 

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The annual contribution limit is "per person" not "per tax return". You cannot use the same account for your DW's back-door Roth. Set up an account for her and fund then convert. Keep both accounts open so you can repeat the trx's in future years and be sure to file form 8606 (front and back) for each year you contribute to a nondeductible TIRA and/or convert to a back-door Roth IRA.