Families can open a Trump account for eligible children by making elections on IRS Form 4547 when filing their tax returns. They can contribute up to $5,000 annually and employers can contribute up to ...
Claiming to give every child “a shot at financial freedom,” President Donald Trump is unveiling the new Trump Accounts initiative, which gives $1,000 to every newborn if their parents open an account.
A $1,000 contribution will be deposited into Trump Accounts for newborns, but older kids can also open an account. Here's what to know.
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