Our daughter made about $1,000 last year (between babysitting, selling some old stuff, and helping with yard work and maintenance). She would like to start her own IRA (yes, we're kvelling).
Two questions:
Does she have to file a tax return on $1,000?
Can we simply set her up a traditional IRA (say, with Vanguard) or can it be a Roth?
Thanks very much for any answers. I did some reading that seems to indicate we can just start her an IRA, but I wanted to see if the community had any suggestions/info.
Submitted February 17, 2019 at 11:50AM by mcd137 http://bit.ly/2GwhPUX
