I am the cheerleader, internet access, monitor, and advisor for my brother's traditional IRA which he never maxes out. He also has a 401k. He is age 55 and does not use the internet. Could I transfer a gift of my assets to his traditional IRA? either in the form of cash or appreciated assets?
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Does he have earned income? Yes, you can contribute cash to his IRA. He will be deemed to have made the contribution via a gift from you. You cannot contribute appreciated assets.Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087
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