<p>[Publication</a> 929 (2006), Tax Rules for Children and Dependents](<a href=“http://www.irs.gov/publications/p929/ar02.html#d0e3823]Publication”>http://www.irs.gov/publications/p929/ar02.html#d0e3823)</p>
<p>
</p>
<p>I think 18 is the magic number not 24. A lot of factor goes in such as what income threshold, investment income, etc… from the above link from the IRS.</p>
<p>
</p>
<p>I did do a transfer. The financial institution let me do it. Not sure what is the argument about. The financial institution made the check out to me. The tax is paying on the yearly basis which is deducted from the trust. Base on what basis can my child sue? She is a minor and I’m the guardian. I can see an exception to the case if the child can produce document that the income was earned from work or paycheck that was made out to the child, ie child actress.</p>