Roth IRA - Married filing jointly - How much can we contribute?
I got married in 2010. My wife didn't work in 2010 and my 2010 income is around $100k. I'm thinking about filing our 2010 taxes jointly but have questions about how much we can contribute.
1) Is the total limit to contribute to a Roth IRA is $10,000 for us? $5,000 for me and $5,000 for her?
2) Do I create two separate Roth IRA accounts? One for me and one for her?
3) As my employer didn't allow me to enroll in their 401k plan in 2010 (new job), will I be able to contribute $10k to traditional IRA ($5k to my traditional IRA account and $5k to my wife's traditional IRA account) in addition to $10k to our combined Roth IRA accounts?
Thank you for your help!