1 If the contributing spouse also has an IRA, annual compensation/earned income must exceed the combined contributions the IRAs. 2  Age: The non-working spouse must be under 70 1/2 in the year of the contribution for a traditional IRA.raditional IRA. The maximum IRA contribution limit is $5,000 for those under the age of 50. For those 50 and older, the contribution limit is $6,000. This contribution limit applies to all IRAs held in each personâs name.