Last tax year 2009, I chose to convert 00 of my kids Traditional IRA to his Roth IRA. I understand that the 00 will be taxable to him. However, is the taxable amount considered unearned income to him and now subject to"Kiddy Tax" ?
Last tax year 2009, I chose to convert 00 of my kids Traditional IRA to his Roth IRA. I understand that the 00 will be taxable to him. However, is the taxable amount considered unearned income to him and now subject to"Kiddy Tax" ?
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