Confirming Kids can earn interest of $1,250 a year with no tax consequences for anyone
Confirming Kids can earn interest of $1,250 a year with no tax consequences for anyone I just want to confirm with the community that at these good HYSA rates (assume 4%) and with a healthy emergency fund for the family, it makes sense to put $30K at 4% for 2025 into each of your children under 10yo’s account and let them each earn as close to but less than $1,250. That interest income will be reported by no one for tax purposes. …