Hello Guys, I opened a Roth account for 6 years old with her having $1000 income from house work and recycle cans, their parents match another $1000, so 6 yrs old has $2k in the Roth, but Turbo tax desktop version will not get pass the Roth question, basically said the kid has 1k income and I tried to put 2k in Roth.
https://www.fidelity.com/learning-center/personal-finance/retirement/turbocharge-childs-retirement
As an alternative, you may want to consider an arrangement where you or another adult make contributions as gifts to reward the child for working, or one where the child contributes a portion of his or her earnings to the Roth IRA and you match that amount (assuming the total doesn't exceed the lesser of the child's earned income for the year or $6,500).
Please advise, thank you.
