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[[My inlaws would like to open educational IRAs for their grandkids. We've
already opened one for the oldest. So I have a 2-part question:
1. Can they legally open an account(s) for the kids?]]

Remember that there can only be one $500 contribution per year. So if you have already opened one for, lets say, 1999 with a $500 contribution, that year is closed. But if they otherwise to make the contribution (AGI limitations), there is nothing that disallows a grandparent from making the contribution.

[[ 2. If so, can they also open one for our oldest who already has one started?]]

Again, only one $500 contribution per year.

You can read more about the Ed IRA in the Taxes FAQ area. Check it out.

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