Guardian Roth IRA for minor

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[Post New]12/30/2022 11:49
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Anonymous
My child has an acting job where he’ll earn about $2000 in 2023. I’m considering putting this money into a Roth for him. Can I contribute the whole $2000 or the $2000 minus SS and Medicare deductions?
[Post New]12/30/2022 11:56
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Anonymous
I think all, but is it for 2022 or 2023?
[Post New]12/30/2022 12:58
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Anonymous
You can do the entire amount for the year the income was earned. So all 2000 for 2023 if it's all upcoming income.
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