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Path: utzoo!linus!philabs!cmcl2!seismo!brl-tgr!wmartin
From: wmartin@brl-tgr.ARPA (Will Martin )
Newsgroups: net.invest,net.taxes
Subject: Spousal IRA Amounts
Message-ID: <2362@brl-tgr.ARPA>
Date: Wed, 23-Oct-85 16:20:28 EDT
Article-I.D.: brl-tgr.2362
Posted: Wed Oct 23 16:20:28 1985
Date-Received: Fri, 25-Oct-85 07:19:15 EDT
Distribution: net
Organization: USAMC ALMSA, St. Louis, MO
Lines: 15
Xref: linus net.invest:824 net.taxes:811

Reference the proposed increasing of the spousal IRA amount from $250
to $2000 (in the light of the recent posting to the effect that it might
not happen anyway):

Does anyone know if the proposed $2000 amount for a non-working spouse
would also apply to a spouse who works but earns less than $2000 in a
year? My wife is a temporary, and works only when she wishes. She may,
therefore, earn only a small amount in a year (one year she earned $992;
that year I put $992 in an IRA for her). Would the proposed increase
to $2000 allow us to put in $2000 for her (in addition to my $2000),
regardless of the fact that she made some money, but less than $2000?
Or would we still be limited to putting in exactly what she earned, up
to $2000?

Will