Spousal IRA — Fund Retirement for a Nonworking Spouse Using the Working Spouse’s Income
What Is It?
A spousal IRA lets a married couple filing jointly fund an IRA for a spouse with little or no compensation by using the working spouse’s compensation to support both contributions.
What Most People Don’t Know
- Each spouse gets a separate IRA contribution limit.
- This is not a joint IRA account. It is two separate IRAs with shared eligibility through joint filing and compensation rules.
- The household can sometimes double retirement saving even with one earner.
Frequently Asked Questions
Is a spousal IRA a special account type?
A: No. It is still an IRA in one spouse’s name; the special feature is the contribution rule for a jointly filing married couple.
How much can both spouses contribute in 2025?
A: IRS Publication 590-A says the combined total can be as much as $14,000, subject to catch-up rules and other limits, if both spouses are under 50.