Question

For 2019 and 2020, each half of a couple using a spousal IRA strategy can contribute $6,000 annually. Each person may contribute an additional $1,000 if they are age 50 or older. That amounts to total contributions of $12,000 to $14,000 for 2019 and 2020.

Answer 1

Answer:

Spousal IRA Contribution Limits and Deadlines

For 2019 and 2020, each half of a couple using a spousal IRA strategy can contribute $6,000 annually. Each person may contribute an additional $1,000 if they are age 50 or older. That amounts to total contributions of $12,000 to $14,000 for 2019 and 2020