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  • Spousal IRA

    Hello, first year doing a backdoor roth. I'd like to contribute $6K/each for myself and my wife. Searching the internet, a spousal IRA is a contribution for a spouse that makes little or no income. My wife has an income, I would just like to handle it for the both of us. Can i just contribute $12K towards my traditional IRA and then convert the whole thing to a roth as long as we're married filing jointly? Or would she have to open her own account. I hope I can do it for the both of us to keep things simpler. Any advice would be appreciated! Thanks!

  • #2
    Your wife does not have to have income. Fine that she does. Doesn't matter whether the contribution is from your money or her money. You can't put $12k in your IRA. "I" in IRA = individual. You open an IRA in your name with wife as beneficiary and contribute $6k. You also open a Roth IRA in your name and your wife as beneficiary. You convert the $6k from your IRA to your Roth IRA.

    You do the same with your wife but she opens an IRA and Roth IRA in her name with you as the beneficiary. It's not that much more complicated to have you each have a Roth IRA. No such thing as a household Roth IRA.

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