ROTH contrib on behalf of decedent
Can an executor make a ROTH contribution today (4-15-08) for last year on behalf of a decedent? He died in December, before making his 2007 ROTH contribution.
Can an executor make a ROTH contribution today (4-15-08) for last year on behalf of a decedent? He died in December, before making his 2007 ROTH contribution.
Permalink Submitted by Alan Spross on Tue, 2008-04-15 20:08
No. However, if a surviving spouse is filing jointly with the decedent for 2007, taxable compensation of the decedent could be used to fund a spousal IRA contribution for the surviving spouse.
The tax code philosophy regarding the decedent contribution is that there is no need for a decedent to fund his retirement.