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Retirement tax questions
You would report a ROTH IRA contribution on the tax return of the person who made it. It will not result in a tax deduction but you should enter it into TurboTax if a return has to be filed for the person who made the contribution. TurboTax will allow you to make sure the contributions are allowable without a penalty, based on the income and tax situation of the taxpayer. Your contribution to a ROTH IRA cannot be more than your earned income for the year of the contribution.
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‎January 25, 2024
7:24 PM