In many cases—including those in which an older saver wishes to make IRA contributions on behalf of a much younger relative—the key limitation will be the recipient’s taxable compensation. If that recipient does not have taxable income, a gift contribution will not be possible for that year.Tax deductions may be impacted by the individual’s (and/or their spouse’s) employer-sponsored retirement plans as well as their household income.Total traditional and Roth IRA contributions must also not exceed the IRS’s ...