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Can I put $20,000 into each of my kids accounts, claim them as earning income and then open Roth's for them? Lets say they each earned $5,000 in their account next year. My daughter is 2 and my son only 6 months.
My next question is for day trading. Because they are short term trades, do the losses just get subtracted from the gains? Example Gains $40,000, losses $26,000. Am I only responsible for income tax on the $14,000 gained?
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