Taxation of Minors

Attribution to Parent

A minor's investment income is generally attributed to the parent with higher income and taxed at that parent's rate. Exception: a minor's earned income from employment (age 16+) is taxed separately at the minor's own rate. Inherited income is also taxed separately.

Important Note: The information on this website is for general informational purposes only and does not constitute professional tax advice. Consult a qualified tax advisor before making financial decisions.