A working spouse can contribute to an IRA on behalf of a nonworking spouse to grow the retirement savings of the couple. The contributions cannot exceed the earned income of the working spouse. In honor of a former U.S. senator, the spousal IRA has been renamed the Kay Bailey Hutchison Spousal IRA. The change in name does not change the rules for spousal IRAs in any way.
As a reminder: For 2013, the maximum IRA contribution per spouse is $5,500, or $6,500 if you’re 50 or older by the end of this year.
Source: H.R. 2289
Rules that limit the deduction of losses from passive activities to income from other passive activities. Passive activities include investment rental operations or businesses in which you do not materially participate.