Common use of Spousal Xxxx XXX Clause in Contracts

Spousal Xxxx XXX. If you are married and have compensation, you may contribute to a Xxxx XXX established for the benefit of your spouse, regardless of whether or not your spouse has compensation. You must file a joint income tax return for the year for which the contribution is made. The amount you may contribute to your Xxxx XXX and your spouse’s Xxxx XXX is the lesser of 100 percent of your combined eligible compensation or $12,000 for 2019 and 2020. This amount may be increased with cost-of-living adjustments each year. However, you may not contribute more than the individual contribution limit to each Xxxx XXX. Your contribution may be further limited if your MAGI falls within the minimum and maximum thresholds. If your spouse is age 50 or older by the close of the taxable year, and is otherwise eligible, you may make an additional contribution to your spouse’s Xxxx XXX. The maximum additional contribution is $1,000 per year.

Appears in 8 contracts

Samples: Individual Retirement Custodial Account Agreement, darbie.com, Individual Retirement Custodial Account Agreement

AutoNDA by SimpleDocs

Spousal Xxxx XXX. If you are married and have compensation, you may contribute to a Xxxx XXX established for the benefit of your spouse, regardless of whether or not your spouse has compensation. You must file a joint income tax return for the year for which the contribution is made. The amount you may contribute to your Xxxx XXX and your spouse’s Xxxx XXX is the lesser of 100 percent of your combined eligible compensation or $12,000 11,000 for 2019 2017 and 20202018. This amount may be increased with cost-of-living adjustments each year. However, you may not contribute more than the individual contribution limit to each Xxxx XXX. Your contribution may be further limited if your MAGI falls within the minimum and maximum thresholds. If your spouse is age 50 or older by the close of the taxable year, and is otherwise eligible, you may make an additional contribution to your spouse’s Xxxx XXX. The maximum additional contribution is $1,000 per year.

Appears in 7 contracts

Samples: Roth Individual Retirement Custodial Account Agreement, Roth Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement

Spousal Xxxx XXX. If you are married and have compensation, you may contribute to a Xxxx XXX established for the benefit of your spouse, regardless of whether or not your spouse has compensation. You must file a joint income tax return for the year for which the contribution is made. The amount you may contribute to your Xxxx XXX and your spouse’s Xxxx XXX is the lesser of 100 percent of your combined eligible compensation or $12,000 11,000 for 2019 2014 and 20202015. This amount may be increased with cost-of-living cost‐of‐living adjustments each year. However, you may not contribute more than the individual contribution limit to each Xxxx XXX. Your contribution may be further limited if your MAGI falls within the minimum and maximum thresholds. If your spouse is age 50 or older by the close of the taxable year, and is otherwise eligible, you may make an additional contribution to your spouse’s Xxxx XXX. The maximum additional contribution is $1,000 per year.

Appears in 5 contracts

Samples: Individual Retirement Custodial Account Agreement, Individual Retirement Custodial Account Agreement, Account Agreement

Spousal Xxxx XXX. If you are married and have compensation, you may contribute to a Xxxx XXX established for the benefit of your spouse, regardless of whether or not your spouse has compensation. You must file a joint income tax return for the year for which the contribution is made. The amount you may contribute to your Xxxx XXX and your spouse’s Xxxx XXX is the lesser of 100 percent of your combined eligible compensation or $12,000 11,000 for 2019 2015 and 20202016. This amount may be increased with cost-of-living adjustments each year. However, you may not contribute more than the individual contribution limit to each Xxxx XXX. Your contribution may be further limited if your MAGI falls within the minimum and maximum thresholds. If your spouse is age 50 or older by the close of the taxable year, and is otherwise eligible, you may make an additional contribution to your spouse’s Xxxx XXX. The maximum additional contribution is $1,000 per year.

Appears in 4 contracts

Samples: Individual Retirement Custodial Account Agreement, jhdarbie.com, nmsadvisors.com

Spousal Xxxx XXX. If you are married and have compensation, you may contribute to a Xxxx XXX established for the benefit of your spouse, regardless of whether or not your spouse has compensation. You must file a joint income tax return for the year for which the contribution is made. The amount you may contribute to your Xxxx XXX and your spouse’s Xxxx XXX is the lesser of 100 percent of your combined eligible compensation or $12,000 10,000 for 2019 and 20202012. This amount may be increased with cost-of-living adjustments each year. However, you may not contribute more than the individual contribution limit to each Xxxx XXX. Your contribution may be further limited if your MAGI falls within the minimum and maximum thresholds. If your spouse is age 50 or older by the close of the taxable year, and is otherwise eligible, you may make an additional contribution to your spouse’s Xxxx XXX. The maximum additional contribution is $1,000 per year.

Appears in 2 contracts

Samples: Roth Ira Plan Agreement, Ira Plan Agreement

AutoNDA by SimpleDocs

Spousal Xxxx XXX. If you are married and have compensation, you may contribute to a Xxxx XXX established for the benefit of your spouse, regardless of whether or not your spouse has compensation. You must file a joint income tax return for the year for which the contribution is made. The amount you may contribute to your Xxxx XXX and your spouse’s Xxxx XXX is the lesser of 100 percent of your combined eligible compensation or $11,000 (for 2018) or $12,000 (for 2019 and 20202019). This amount may be increased with cost-of-living adjustments each year. However, you may not contribute more than the individual contribution limit to each Xxxx XXX. Your contribution may be further limited if your MAGI falls within the minimum and maximum thresholds. If your spouse is age 50 or older by the close of the taxable year, and is otherwise eligible, you may make an additional contribution to your spouse’s Xxxx XXX. The maximum additional contribution is $1,000 per year.

Appears in 1 contract

Samples: www.horizontrust.com

Spousal Xxxx XXX. If you are married and have compensation, you may contribute to a Xxxx XXX established for the benefit of your spouse, regardless of whether or not your spouse has compensation. You must file a joint income tax return for the year for which the contribution is made. The amount you may contribute to your Xxxx XXX and your spouse’s Xxxx XXX is the lesser of 100 percent of your combined eligible compensation or $12,000 for 2019 and 2020. This amount may be increased with cost-cost- of-living adjustments each year. However, you may not contribute more than the individual contribution limit to each Xxxx XXX. Your contribution may be further limited if your MAGI falls within the minimum and maximum thresholds. If your spouse is age 50 or older by the close of the taxable year, and is otherwise eligible, you may make an additional contribution to your spouse’s Xxxx XXX. The maximum additional contribution is $1,000 per year.

Appears in 1 contract

Samples: Individual Retirement Custodial Account Agreement

Spousal Xxxx XXX. If you are married and have compensation, you may contribute to a Xxxx XXX established for the benefit of your spouse, regardless of whether or not your spouse has compensation. You must file a joint income tax return for the year for which the contribution is made. The amount you may contribute to your Xxxx XXX and your spouse’s Xxxx XXX is the lesser of 100 percent of your combined eligible compensation or $12,000 10,000 for 2019 and 20202012. This amount may be increased with cost-of-living adjustments each year. However, you may not contribute more than the individual contribution limit to each Xxxx XXX. Your contribution may be further limited if your MAGI falls within the minimum and maximum thresholds. If your spouse is age 50 or older by the close of the taxable year, and is otherwise eligible, you may make an additional contribution to your spouse’s Xxxx XXX. The maximum additional contribution is $1,000 per year.

Appears in 1 contract

Samples: 4kmc.com

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!