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Stock impact report

How Trump Accounts for kids will work and more key details following Dell donation [CBS News]

NerdWallet, Inc. (NRDS) 
Company Research Source: CBS News
spending bill , which promises $1,000 seed contributions from the federal government for eligible kids. Here's what to know, including who qualifies for a Trump Account, how to set one up and how they compare to other savings plans geared to children. Who is eligible for a Trump Account? Children who are U.S. citizens and who are born between Jan. 1, 2025, and Dec. 31, 2028, are eligible to have a Trump Account, according to a fact sheet from the Department of the Treasury. Households of any income may open an account, and all such accounts qualify for a one-time $1,000 contribution from the U.S. government. Families with children under 18 may also open accounts, but they won't receive the $1,000 gift from the government. However, parents, friends, employers and other parties can contribute tax-free dollars to an account. How do I open a Trump Account? The Treasury Department said households should use IRS Form 4547 to open a Trump Account on behalf of a child. The newly c Show less Read more
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