IRS rules prevent you from maintaining joint Roth IRA accounts. However, you may accomplish your goal of contributing larger amounts if your spouse establishes his or her own IRA. Please note, however, that if your tax filing status in 2007 is married filing separately, you are eligible to contribute to a Roth only if your modified adjusted gross income (MAGI) is $114,000 or less.
For individuals whose 2007 tax filing status is married filing jointly, the limit is $166,000.
To read more about IRAs, check out Roth Or Traditional IRA … Which Is The Better Choice?, Roth IRA: Back To Basics and Making Spousal IRA Contributions.
This question was answered by Denise Appleby