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Reply to "Which individual stocks to buy teen for xmas gift? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Where is it legal for a minor child to trade stocks independently? [/quote] Nowhere. Do paper trading or let them use your account under your supervision. One of my Roths was opened just for that occasion. I will also leave it to them as I don't need all my Roths.[/quote] Why don’t you need all your Roths? Despite what many say, use your Roths (tax free) to live and leave your taxable accounts to your children. They will step up in basis when you pass and your heirs can then sell the assets tax free. [/quote] My taxable accounts are tax free to me and will be for years to come. I'd rather deal with those accounts myself. The Roth is better for buying and selling stocks short term without worries about taxes. A family member inherited Traditional IRA, Roth, and investment accounts. Roth was the easiest account to inherit.[/quote]
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