What is the maximum amount of passive income a child can have before they are taxed at their parent’s rate?
I live in Texas and would like to know how much I can pay my child passive income before she is taxed at my tax rate. thanks
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Comments
Children under age 18 who have investment income greater than $1,700 may to subject to tax based on their parents’ income.
Unearned Income:
$ 0 – 850….Not taxable
$851 – $1,700…Child’s rate
over $1,700…Parent’s Rate