In 2025 my sister and I will be receiving an inheritance distribution from my Mother’s trust. My sister has a traditional Ira at Fidelity. I have a traditional Ira and a Roth IRA at Fidelity. Can my sister open up a Roth Ira with her share? And, can I fund my Roth Ira with my share? The amounts will be over the 2024 limits to contribute to a Roth Ira. If we both can not open or fund a Roth IRA, what would you suggest? We both are invested in equities and Target Date Index Funds in our IRA’s. Thank you for your consideration.
