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<<I am currently opening a custodial account for my child and would like to know the amount of profit a minor can have per year before paying taxes. >>

We did the same for our daughters. Click here to find your answers: http://www.fool.com/Money/InvestingForKids/InvestingForKids04.htm

Ask you second question on the Tax Strategies board: http://boards.fool.com/Find.asp?ticker=&name=Tax+Strategies&username=&submit=Find There are several Tax experts there and I'm sure you'll get a prompt reply.

I hope this helps.
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