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 Standard Deduction:
- Dictionary by the tax law in lieu of itemized deductions. A taxpayer whose gross income is not more than the sum of the standard deduction and exemptions generally does not have to pay tax. See our Standard spousal ira definition.
- Definition Section 125 Plan:
- Dictionary See Cafeteria Plan spousal ira explain.
- Definition Single:
- Dictionary The filing status used by an unmarried taxpayer who does not qualify for any other filing status spousal ira what is.
- Definition S Corporations:
- Dictionary business corporation that generally pays no tax. Instead, shareholders of an S corporation report their share of the corporation's income, gain, losses, and credits on their individual returns spousal ira meaning.
How works Spousal IRA meaning in Tax definitions S .
