I am opening a CD for my seven-year-old daughter. Do I put the interest that it accrues on her taxes or mine?
If you open the account under the minor's name, or if it is a trust account. Ask your bank about a Uniform Transfer to Minors Act account for the minor, it is their income. A UTMA account doesn't require an attorney or a lot of paperwork. Your bank should be able to assist you with all you need.
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If you open the account under the minor's name, or if it is a trust 