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Irvinsolt
Returning Member

How can I report a Roth donation for my children on my 1040? They are minors and do not need to file a return

How can I report a Roth donation for my children on my 1040? They are minors and do not need to file a return?

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3 Replies
MaryK4
Expert Alumni

How can I report a Roth donation for my children on my 1040? They are minors and do not need to file a return

You do not have to report Roth Contributions set up for your children.  You should consult with legal counsel, however, because your nomenclature of "Donation" could be problematic.  

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How can I report a Roth donation for my children on my 1040? They are minors and do not need to file a return

you posted that they don't have to file a return. so the question becomes do they have earned income (w-2 or self-employment income) at least equal to the contribution?

How can I report a Roth donation for my children on my 1040? They are minors and do not need to file a return

A ROTH can only be purchased with earned income.  Do your children have jobs to earn the money for the ROTH IRA?  Are they working for you in a business?  If they earned money and paid income tax they need to file their own return.

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