Can Children Make Roth IRA Contributions?

If you have children (or if you are a child under the age of 18 and reading personal finance blogs, kudos to you!), you might be thinking about what you could do to help give them a jump start on their retirement savings. Roth IRA contribution rules say nothing about age so anyone of any age, as long as they meet the other criteria, is eligible to contribute into a Roth IRA. So, your child is permitted to contribute as long as they have earned income and his or her adjusted gross income falls under the income ceilings and phaseouts.

What is earned income? Basically, if they get a W-2 or report income on a Schedule C, then they qualify.