Custodial Roth IRA for kids
Up to earned income or $7,500
Can You Write Off Custodial Roth IRA for Kids?
Short answer: Yes: a child with earned income from a job or family business can fund a Roth IRA up to the lesser of that income or $7,500.
Keep records of the work and pay.
Records to keep: Keep receipts, statements (1098, 1098-T, 1099, W-2G), and a note of what each cost was for. Compare itemizing to the 2026 standard deduction before you claim.
BW-B23-01944
low risk
Custodial Roth IRA for kids
Typical range: Up to earned income or $7,500
Individuals / Personal Taxes
Other Expenses
Personal Tax Deductions
Yes: a child with earned income from a job or family business can fund a Roth IRA up to the lesser of that income or $7,500.
BizWriteOffs provides educational information only and is not tax, legal, or accounting advice. Deductibility depends on your specific facts and records. Consult a qualified tax professional.
Business justification
Yes: a child with earned income from a job or family business can fund a Roth IRA up to the lesser of that income or $7,500. Keep records of the work and pay.
Category
- Personal Tax Deductions
personal deduction
search demand 2026 b23
kids dependents
other kids