The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Roth IRA Date:  1/19/2000  9:02 PM
Author:  pmarti Number:  25532 of 127614

<< Can a minor (youth-type person) open a Roth? Under 18 years old with W-2 income. >>

From a tax law perspective, yes. There is no minimum age, as long as you have earned income.

I don't know whether your minority presents a problem from the general law side (the inability of minors to contract, etc.). I'd suggest you look at the application form from your prospective custodian. If your age presents a problem, it should be apparent in the information they give you as part of the application.

Phil Marti
Tax Preparer
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us