qbteachmt
Level 15

"The parents plan to setup and fund a Roth IRA for the minor using the minor's own funds."

This is typical, when a minor works for their parents' business, but often, the parents will fund the IRA account with their own funds, as incentive to the child. The IRS doesn't care where the money funding it will come from.

*******************************
Don't yell at us; we're volunteers
0 Cheers