so once i fill out my kids brokerage, i get questioned about my kids Roth IRA. My child babysits and dog walks the neighborhood. She get $10 a week for doing it roughly $575 a year. Each year i just take that money and put in her Roth IRA since it is earned income. We've been doing this for a couple years but this being the first year that she has a 1099-b, i'm now getting a warning that she isn't eligible for the roth ira since she doesn't have w2 to file it against.
what a can of worms i opened when i decided to do an UTMA brokerage 1099-b and teach my kids the power of investing. i should have just left their roth ira stuff and done everything through there and stuck with CD's.
