Q. My wife and I have a spousal IRA. Can we contribute to a spousal Roth IRA? E.L.O., Atlanta
A. Yes. The rules for spousal Roth IRAs are effectively the same as a traditional IRA set up for a married couple. Even if one spouse doesn’t have any earned income, you can contribute to the Roth within the usual contribution limits.
For example, a couple can jointly contribute up to $10,000 ($5,000 per spouse) to a spousal IRA for 2012. The contribution limit is $6,000 for each spouse age 50 or older.
Tip: Contributions can be divided between all IRAs as long as the total for 2012 doesn’t exceed $10,000 ($12,000 if both spouses are age 50 or older).