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Get your taxes done using TurboTax
Q. Can parents contribute to their kids’ education or retirement plans, specifically to a Roth IRA, if
the kids have not earned any income. Could you please clarify?
A. Yes, to a Qualified Tuition Plan (education plan) such as a 529 plan.
No, to a Roth IRA. An IRA contribution requires that the kid have earned income ("compensation").
December 30, 2024
12:59 PM