If only one spouse is employed,both spouses (ages 34 and 39)may contribute a maximum of $5,000 to an IRA in 2010 if the employed spouse has compensation of at least $10,000.

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This is true according to IRS rules for contributions to IRAs in 2010. If only one spouse is employed and has compensation of at least $10,000, then both spouses can contribute a maximum of $5,000 to an IRA for the year. This is known as a spousal IRA contribution.

If Only One Spouse Is Employed,both Spouses (Ages 34 and 39)may