An IRA for Your Spouse

You have to have earned income or compensation to make an IRA contribution. However, even if your spouse does not have any earned income, they can still make an IRA contribution by using your compensation to the extent you have any left over after your IRA contribution. For example, if the husband age 49 has a W2 showing $10,000 in wages and the wife has no earned income, he can make an IRA contribution of $5,500 and she can make one for $4,500.