Spousal Individual Retirement Account (ira)

Definition of "Spousal individual retirement account (ira)"

Simone  Pietrunti Realtor-Associate® real estate agent
Simone Pietrunti Realtor-Associate®, Real Estate Agent Christie's International Real Estate

Individual retirement account established under the tax reform act of 1986, for a spouse who has unearned income. The maximum annual combined contribution into the worker's and spouse's IRA is $2250. The contributions can be apportioned between the two accounts in any manner desired.


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