Trump accounts offer a new and tax-efficient way to invest for a minor’s future without the requirement of earned income. New Trump accounts, which are a creation of the One Big Beautiful Bill Act (OBBBA), are essentially traditional IRAs for minors who do not have earned income. Parents or guardians may open accounts for their children and make contributions of their own, however, the statute also includes a pilot program authorizing federal government contributions (limited to children born between 2025…
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