Roth accounts
1. Can I still contribute to my Roth account although I am recently retired and will have to take minimum distributions from by traditional IRA, 401(k), 401(a), and 403(B) accounts?
2. Can I make contributions to my daughter’s Roth account?
Thanks…
Terry Says: You can make a contribution to your Roth IRA as long as you have earned income — and since you’re over 50 you can contribute up to $6500, if you have that much earned income (not dividends, or retirement income). You are never required to take withdrawals from a Roth.
And you can make a gift to your daughter and she can put it into a Roth IRA — again as long as she had earned income, although the limit if under age 50 is $5500.