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Financial Planning / Tax Strategies


Subject:  Child with job and IRA Date:  3/4/1999  12:30 PM
Author:  vlperk Number:  11437 of 127616

I have a 14-year old daughter who regularly babysits, and earned about $2100 last year. I would like to open an IRA for her; but an unsure if this is "legit", since she will not receive a W-2 form for this income.(in addition, she had appx. $2500 in dividends and capital gains from a mutual fund - will this affect the decision to open an IRA?)

I will appreciate any advice regarding this.

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