Are you referring to the Trump Account? How do I set up a Trump Account in TurboTax? Trump Accounts are long-term, tax-deferred investment accounts for eligible children. They work a bit like a t...
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Are you referring to the Trump Account? How do I set up a Trump Account in TurboTax? Trump Accounts are long-term, tax-deferred investment accounts for eligible children. They work a bit like a traditional individual retirement account (IRA), but for kids. If you are asking about something else, please let us know which tax boost you are referring to...
Who is eligible for a Trump Account?
Most children under age 18 can have an account. To qualify, your child must:
Be a U.S. citizen or permanent resident
Have a valid Social Security number
Who is eligible for the $1,000 deposit?
Children born from 2025–2028 who are U.S. citizens can receive a one-time $1,000 deposit from the U.S Treasury once their Trump Account is created. This doesn’t count toward annual contribution limits.
Some children, even those born outside 2025–2028, may qualify for other automatic contributions through private donations.