Spousal Individual Retirement Account (ira)

Definition of "Spousal individual retirement account (ira)"

Phyllis  Baudat real estate agent

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Better Homes & Gardens 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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