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Author: batemaja Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121585  
Subject: tax benefits contributing to parent's retirement Date: 3/13/2001 6:15 PM
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Is there any way I can start/contribute to an IRA or other retirement savings vehicle for my parents which gives me a tax benefit or other savings?
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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 48352 of 121585
Subject: Re: tax benefits contributing to parent's retire Date: 3/13/2001 8:11 PM
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Is there any way I can start/contribute to an IRA or other retirement savings vehicle for my parents which gives me a tax benefit or other savings?

No. Once you give money to them, anything it earns afterward is income to them, not you, but there's no immediate tax benefit to such contributions.

Phil Marti
VITA Volunteer

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