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Question:  My 72 year old client would like to contribute $6,000 each to a Roth IRA for himself and his spouse.  Can he do so?

Answer:   Yes, so long as he has earned income at least of at least $12,000, but the couple’s adjusted gross income is not in excess of $173,000 (for 2012).

Unlike a traditional IRA where the ability to make contributions ends once the taxpayer reaches age 70 ½, an older taxpayer with earned income is eligible to make Roth IRA contributions for himself and his spouse based on normal Roth IRA rules.

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