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Can I contribute $6000/year in my kids Roth IRA, provided they don't have earned income?
Hi,
I've two school going kids age 5 and 11, both are non-US citizens and have ITINs.
I recently opened Roth-ira for them and would like to understand if I can contribute $6000 from my after-tax income every year for each one of them?
Do they need to have any income in the year to contribute to Roth IRA or they are good if 100% contribution every year is done by me (father) itself?
Thanks in advance.
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May 1, 2020
7:57 AM