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Pastimes : Children and Investing
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To: Patricia Meaney who wrote (9)11/3/1998 10:42:00 AM
From: Early Out  Read Replies (1) of 22
 
You are right Patricia, it is higher. From American Century website:


Under current tax laws, annual earnings in a minor's account are taxed as follows: 

First $650 tax free 
Next $650 taxed at the child's rate 
Income above $1,300 taxed at the parents' top rate


-jsc
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