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Originally Posted by
HoopsDawg
Yeah, I'm aware, but it's not worth the hassle. The extra 5K per individual has to be in paper form as well as coming from a refund. And he may not want to put anything in his kids name. If you can get a 1 year CD at 4.6 or better, it's a lot cleaner.
No, the gift box can be any amount and can be electronic. You get the full economic benefits as if you actually owned it, but it's segregated in the "gift box" until pulled out of the gift box and placed in the recipient's name. When gifted, it counts against your $10k max contribution for that year. It's a good way to get a larger amount invested to get the benefits of the high current rates and to start the 5-year and 1-year clocks running right away.
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