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My 38 year old son just landed a great job paying over $70,000. He will be contributing to a employer-sponsored 401k and I want to start him on a Roth IRA by gifting him $6000. He will have made well over that amount by the end of the year and I know that as long as my wife and I keep the total gifts to less than $20,000 there should be no income effect on his taxes. Is there any problem with his starting a Roth IRA with a gift under these circumstances?

Also, is it true that if he contributes $6000 to a Roth in this way, he cannot also contribute to a regular IRA?

Are these limits correct for 2020?
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