Greetings,
Thank you all for your support. A few questions on Dependent income:
> 17year old made about $1700 Earned income as summer intern (2024) and no Fed or State taxes deducted on W2. However, opened own Brokerage as turned 18 and brokerage statement show$100 dividend- which is deposit from Brokerage as account opened.
Q. Can he use Earned income per his wish (brokerage, CD) and can I fund exact Earned income for his IRA- without filing any taxes (his income or div well below IRS limits)? OR we it is good t file taxes?
> Elder one had Intern income from 2022, 23 but never opened any IRA or filed taxes as dependent (income well below IRS limits) although few $ held for federal taxes. Now, can he open a taxable Brokerage with that money?
Thanks,
Saj
