Many thanks. The parents want to help kid to open the bank in the UK, not in the US. In the UK , there are bank account for junior, I do not know whether US has something similar. That is why they want me help ask before opening it.
In the short term, because parents need to pay NAR tax in 2023 and from 2024, they will have 0 income in the US and therefore no need to report any tax anymore in the US, therefore they want to know whether it is possible to get some deduction for the tax.
does it make sense to you?
