Sentences with phrase «for nonworking spouses»

Income replacement for nonworking spouses is an important and often overlooked insurance need.

Even though a student from India may be able to take an exemption for a nonworking spouse, this is not considered a joint return.

An Indian student may take a standard deduction equal to the amount allowable on Form 1040 and may be able to claim the personal exemptions for a nonworking spouse and U.S. - born children.

But a working spouse can contribute up to $ 5,500 of his or her earned income to an IRA for a nonworking spouse in 2017.

The law also raised the contribution limit from $ 1,500 to $ 2,000 plus $ 250 for a nonworking spouse.

That $ 250 contribution allowance for a nonworking spouse marked the birth of the Spousal IRA.

Not exact matches

The IRA is good for nearly everyone with an earned income, or a nonworking spouse.

In addition, full deductibility of a contribution is available for working or nonworking spouses who are not covered by an employer - sponsored plan and whose MAGI is less than $ 186,000 for 2017, with partial deductibility for MAGI up to $ 196,000.

In addition, full deductibility of a contribution is available for working or nonworking spouses who are not covered by an employer - sponsored plan whose MAGI is less than $ 186,000 for 2017; partial deductibility for MAGI up to $ 196,000.

Sometimes, a working spouse's health insurance covers a nonworking spouse who can not qualify for or afford health insurance on her own.

Sometimes, the nonworking spouse needs to put in 10 years of marriage to qualify for Social Security benefits based on the other spouse's earnings.