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I would also suggest that if the OP uses a money tracking software like Quicken or MS Money, then set up a separate file for the child. That way, all the data can be collected and tracked in one place, and when the child leaves home, the OP can just give the child the file and the child will have all the basis and transaction information.

If the OP has already accumulated substantial history in Quicken in the same file with his own information, he can save the file under a different name then delete all the accounts other than the child's. This might look like a lot of work, but it beats re-entering a lot of historical transactions for the child.

BTDT.

Patzer
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