Can my Spouse open an IRA with MyStockFund?
If your spouse had taxable income he/she can open an IRA. Note however, that all IRAs are individual accounts and therefore a husband and wife cannot open a single joint IRA. In the case of a married couple, both the husband and the wife are required to open separate individual IRAs. Keep in mind, that if a person is married and opens an IRA, they can designate their spouse as the sole beneficiary.
Related Questions
- If one spouse is allocated a portion of the other spouse s IRA fund and decides to keep the cash and not place the money into another IRA within 60 days, will that spouse have to pay taxes or a penalty on the cash?
- Do the client and the spouse need the IRA for future living expenses?
- Can my Spouse open an IRA with MyStockFund?
