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topher-raley35
March 26, 2025
Question

If a contribution to my IRA was made by a family member but not by me, should I report it in net regular contributions?

  • March 26, 2025
  • 1 reply
  • 0 views
I'm trying to figure out if net regular contributions refers only to my or my wife's contributions (we file jointly) to the Roth IRA.

    1 reply

    M
    MinhT1
    March 26, 2025

    Each spouse has a separate IRA and/or Roth IRA account. And each individual has a separate contribution limit.

     

    If somebody else contributes to your IRA account, this contribution is considered a gift to you, and the contribution counts toward your contribution limit, and you should report it on your tax return.

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