RE: IRAs for kids.

From: Jeff Morgan <Morgajs@parsec.com>
Subject: RE: IRAs for kids.
Date: Mon, 01 Jun 1998 12:35:53 -0600

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>Date: Fri, 29 May 1998 18:20:03 -0700
>From: Christy Rohrig <christy@netwiz.net>
>Subject: IRA's for your kids!!!
><...>
>    My understanding is that, since you can gift $10k to any one person
>each year, there is no reason that you can not gift your kids $2000 to
>open their IRA's.<...>
>
>A tax-geek, engineer's opinion,
>- -Christy

More engineer that tax-geek? ;-)

IRAs must be funded with *earned* income.  Gifts aren't earned.

Cheers.

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Jeff Morgan - morgajs@parsec.com




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