One of the mysteries of the English language finally explained.
Tax on a child's investment income, which is taxed at the parents' rate under certain conditions.
- ‘The kiddie tax applies regardless of whether the child may be claimed as a dependent by either or both parents.’
- ‘One difference is that the expanded kiddie tax will not apply to your 18-year old if he or she earns more than one-half their own support.’
- ‘Parents may have set it up so the bulk of this income would be received after the child turned 14, so they'd avoid kiddie taxes under the old rules.’
- ‘Unearned income within reach of the kiddie tax includes interest, dividends and capital gains.’
- ‘The new laws apply the kiddie tax to persons under the age of 19 and also to persons under age 24 who are full-time students.’
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