What taxes will I have to pay?

The taxes on your investments will be treated differently depending on whether you are an adult or a minor under the age of 18. For any accounts you hold with taxable activity for the prior tax year, we will make available a tax document on February 18 for the prior tax year.

A taxable activity will take place when you sell an investment, earn dividends of more than $10 or earn interest of more than $10 within a tax year.

For anyone under the age of 18

  • A child's income from their Loved account does not need to be declared when their total unearned income for the year is less than $2,200.
  • When a child is earning more than $2,200 in unearned income, they will be taxed at the Estate and Trust Income Tax Rates. These rates start from 10% and more information on children taxes is available from the IRS at https://www.irs.gov/pub/irs-pdf/i8615.pdf

For anyone above the age of 18

  • You can use the tax forms provided to complete your tax return. 

Please note you should address specific tax questions with a tax professional as we do not provide legal or tax advice.