Thank you all for the help. This thread has been amazing in helping me. Based on this advice I am opening a Custodial Roth at my bank and have also received an EIN from IRS.
I am looking at more information of what is needed on the W2:
1. I am in California. What is my state id number. Where can I get this from.
2. There will be zero taxes deducted because the income will be very small.
3. I am planning to issue a check to my child which is then deposited to her Roth. Is this OK or should I be issuing a check directly to the Roth. Should there be any other deferrals or information pertaining to this mentioned on the W2.
Regards.
