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Kiddie Tax

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Kiddie Tax
A Tax on children under 14 who earn income over $1,200. The extra income is taxed at the guardian's rate.
    
The kiddie  Tax rule exists in the United States of America which taxes certain unearned income of a child at the parent's marginal rate, no matter whether the child can be claimed as a dependent on the parent's return. Children are usually in a lower Tax bracket than their parents and grandparents, which makes them the likely receiver of the shifted income. The incentive, however, to shift income from the taxpayer to the taxpayer's child is reduced by ยง1(g) of the Internal Revenue Code.
Posted by  Convention of Independent Financial Advisors CIFA
 
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