Child Roth IRA
Can a minor with earned income contribute to a Roth IRA even though the parents are ineligible due to not satisfying the income threshold?
I was always under the assumption the answer is yes however I’m getting pushback from an accountant
Thank you
Permalink Submitted by Alan - IRA critic on Mon, 2021-09-27 18:41
Accountant is incorrect, if the child has earned income an IRA contribution can be made for the child without regard to the parent’s income.