IRA

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I'm 83. I have an untouched Roth IRA. Can I still make contributions to it...or transfer assets into it from an ordinary brokerage account?

Ask the Experts - Extension III - Sept 2025

dev145Answer

Level 6

Yes, you can make contribution to ROTH provided that you have an earned income and it is not over the income threshold. There is no maximum age limit for contributing to a Roth IRA, a rule that has been in effect since 2020 following the SECURE Act.

Important part is earned income. Pension/retirement income, Social Security benefits, investment income or any passive activity income do not count as earned income. See below link about eligibility requirements.

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits#:~:text=IRA%20contributions%20after,of%20your%20age.

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dev145

Answer

Level 6

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits#:~:text=IRA%20contributions%20after,of%20your%20age.

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aloefanAuthor

Level 2

This seems strange. It sounds like I could convert a taxable transaction into a nontaxable one simply by not selling shares from my portfolio and instead transferring them into my Roth IRA and selling them from there. Am I missing something?

dev145

Level 6

You cannot transfer stocks to retirement accounts from regular brokerage account because these do not count as in-kind transfer. But you can transfer securities from one retirement account to another retirement account since this count as in-kind transfer.