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Updated about 4 years ago,

User Stats

21
Posts
2
Votes
Karen Kasjaniuk
  • Tallahassee, FL
2
Votes |
21
Posts

Minor child as investor

Karen Kasjaniuk
  • Tallahassee, FL
Posted

My under-10 year old has $500 in her savings account. As a teaching opportunity, we were going to let her 'invest' in our next property purchase. In return, she will receive her allocated portion of net earnings each month that she will be required to put back into her savings account.  Trying to show her that she can earn a lot more by investing her money in real estate instead of a savings account.  I don't want to blindly enter into any tax or legal problems out of ignorance.  Any red flags with this scenario that I should be aware of?  Any insight would be grately appreciated!

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