Two common questions this time of year 

• Can I establish a IRA account for my non working spouse? 
• Does my investment income allow me to contribute to an IRA?

Bankrate.com provides answers.

Speaking of income, you must earn money to open any IRA. That means your only income can't be from unearned sources, such as investments. You must get paid wages, a salary, tips, professional fees or bonuses.

There is an exception that allows Roth accounts for nonworking spouses. If you and your spouse file a joint return but one does not work, the employed spouse can open and contribute to a Roth IRA for the unemployed partner.

Generally, the contribution limits for a spousal IRA are the same as for the account held by the working wife or husband. Check Chapter 2 of IRS Publication 590, Individual Retirement Arrangements for complete guidelines on opening a Roth spousal IRA.