Spousal Individual Retirement Account (ira)

Definition of "Spousal individual retirement account (ira)"

Margaret Mayer real estate agent
Margaret Mayer, Real Estate Agent Keller Williams Community Partners

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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