Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.
Persons eligible to make contributions to a Traditional IRA are those who received taxable compensation during the year (or, if they file a joint return, their spouse having received taxable compensation), and they are not age 70½ by the end of the year. The persons and their spouses must open separate IRAs. IRA accounts cannot be held jointly.
