Can a minor contribute to an IRA?

Yes, as long as the minor has earned income. It can be opened as a Traditional or Roth IRA and the maximum contribution is $6,000 or 100% of earned income, whichever is less. To establish an IRA for a minor, the account must be opened and held by an adult, as guardian, in the name of the minor. While the adult is the individual authorized to perform transactions on the account, the minor is considered the registered owner for tax purposes.