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Ask The Expert: Eligibility

Q:
Asked by Dennis 3/8/13

Can I put money into a Roth for my one-year old grandson?

Matthew Malone A:
Answered by Matthew Malone 3/10/13
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332 out of 333 people found this useful.

Unfortunately not. To qualify for Roth contribution, the account holder (in this case, your grandson) needs to have “earned income,” e.g., wages from employment. Look into 529 plans, which allow tax-deferred savings for education.

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