When to use Void or Value-Returning Functions: 1  Void Function: when must return more than one value or modify any of the caller's arguments. 2  Void Function: when must perform I/O. 3  Void Function: when in doubt, can recode any value-returning function as void function by adding additional outgoing parameter.
No contributions allowed after age 70-1/2. None. Annual Earned Income Requirements. Total traditional IRA contribution amount for both spouses cannot exceed total amount of your joint taxable income, or double the annual IRA limit, whichever is less.bility to deduct contributions to a traditional IRA may be limited or entirely eliminated if the working spouse contributes to an employer-sponsored plan. No effect on eligibility for spousal Roth IRA. Age Limits on Contributions Yes. Contributions are not permitted for a nonworking spouse beyond age 70 1/2.
In addition, married workers can also contribute to a spousal IRA on behalf of their spouse if that spouse did not have any earned income that year. Regardless, income from interest, dividends, and capital gains alone does not permit a person to contribute to an IRA. How Much You Can You Contribute to an IRA? Provided your compensation is at least as much as the amount of your contributions, taxpayers under 50 years old may currently contribute up to $5,500 per year to their IRA(s). Those at least 50 years old by the end of the tax year may contribute an additional $1,000 in catch-up savings annually for a total of $6,500.