Roth IRA question
Hello,
My niece works and if she opens a Roth IRA, can she or I deposit birthday and Christmas money I give her into that Roth IRA? Thank you.
Hello,
My niece works and if she opens a Roth IRA, can she or I deposit birthday and Christmas money I give her into that Roth IRA? Thank you.
Permalink Submitted by Alan - IRA critic on Mon, 2024-07-22 15:51
If she has enough earned income to support a contribution, she can make the contribution even if she uses gifted money for it. It’s best that she make the contribution, so she knows how much has been contributed.
Permalink Submitted by GiGi on Thu, 2024-07-25 05:06
Thank you.