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I want to establish an individual retirement arrangement (IRA) for me and my spouse but I need additional information. What is the most I can contribute during the tax year?

April 26, 2017additional Arrangement contribute individual IRA retirement spouse tax

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I want to establish an individual retirement arrangement (IRA) for me and my spouse but I need additional information. What is the most I can contribute during the tax year?

1 Answer

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A. Both you and your spouse can contribute up to $3,000. Individuals age 50 and over can make an additional $500 contribution, raising their maximum contribution limit for 2003 to $3,500.