spousal IRA investment & finance definition
An
Individual Retirement Account that
can be opened by a non-working spouse who has an annual income of less than
$2,000. Couples using a spousal IRA must file their tax return jointly.
See spousal IRA in Wall Street Words
An individual retirement account in the name of a nonworking spouse. A spousal IRA may be funded by the working spouse up to a maximum amount established by law. There is also a limit on annual contributions to the combination of IRAs of the working and nonworking spouses.
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