What SPOUSAL IRA means: An IRA set up by a taxpayer whose spouse has little or no compensation for the benefit of that spouse. The designation "spousal" is significant for tax purposes only. There is no connection between a Spousal IRA and the other spouse's IRA, and no IRA may be jointly owned.
- Definition Section 1250:
- Dictionary is sold, gain must be recaptured as ordinary income to the extent of the depreciation claimed in excess of straight line. Section 1250 is the section of the Internal Revenue Code that requires this spousal ira.
- Definition SEP:
- Dictionary See Simplified Employee Pension spousal ira.
- Definition Self-Employment Income:
- Dictionary Self-employment income is income earned by a self-employed employed individual. In most cases, the income is subject to self-employment (social security and medicare) tax spousal ira.
- Definition Special Needs Child:
- Dictionary credit, a child determined by the state to be difficult to adopt due to factors such as racial or ethnic background, age, a condition that requires special care, or whether the child has siblings. A spousal ira.
How works Spousal IRA meaning in Tah definition S .