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An employed taxpayer with earnings of $40,000 may contribute up to $6,000 to an IRA in...

An employed taxpayer with earnings of $40,000 may contribute up to $6,000 to an IRA in the name of her unemployed spouse who is 32 years old?

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An employed taxpayer with earnings of $40,000 may contribute up to $6,000 to an IRA in the name of her unemployed spouse who is 32 years old- True.(Individual Retirement Accounts (IRAs) can help boost your savings for retirement, provided that you adhere to the rules. The amount you can contribute to a traditional or Roth IRA in 2020 is generally $6,000 for those age 49 and under.1 However, your age, income, and other retirement accounts may allow you to save more—or require you to contribute less.)

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