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New Member
posted Mar 26, 2025 1:39:12 PM

If a contribution to my IRA was made by a family member but not by me, should I report it in net regular contributions?

I'm trying to figure out if net regular contributions refers only to my or my wife's contributions (we file jointly) to the Roth IRA.

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1 Replies
Expert Alumni
Mar 26, 2025 1:44:58 PM

Each spouse has a separate IRA and/or Roth IRA account. And each individual has a separate contribution limit.

 

If somebody else contributes to your IRA account, this contribution is considered a gift to you, and the contribution counts toward your contribution limit, and you should report it on your tax return.