Message Font: Serif | Sans-Serif
No. of Recommendations: 0
My daughter is 15 and by the end of 1998 will have earned $2200 or so from her part-time job. Since this amount is below the minimum taxable income, she will not incur any tax liability for her earnings. She will not pay taxes now and would not pay taxes upon withdrawal at retirement. Seems too good to be true. Does she qualify for a Roth IRA or am I missing something?
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.