Question:   I want to establish a traditional individual retirement arrangement (IRA) for my spouse, and I need additional information. What is the most I can contribute to a spousal IRA during the tax year?

Answer:    

• If both you and your spouse work and both have taxable compensation, each of you can contribute to a separate traditional IRA.
• The amount that you can contribute to each IRA is subject to a limit that can be found in Publication 590.
• Contributions can be made even if one spouse has little or no compensation, if you file a joint return.
• Your total contribution to both your IRA and the spousal IRA for this year is limited by certain factors such as your taxable compensation, contributions to a traditional or Roth IRA and your age.