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intra-family transfer of assets

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  • intra-family transfer of assets

    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?

  • #2
    WCICON24 EarlyBird
    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.
    My passion is protecting clients and others from predatory and ignorant advisors 270-247-6087 for CPA clients (we are Flat Fee for both CPA & Fee-Only Financial Planning)
    Johanna Fox, CPA, CFP is affiliated with Wrenne Financial for financial planning clients