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Income Tax Planning
Chapter 6: Introduction to Deductions/TRUMP ACCOUNTS (1 of 2)
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Chapter Study Session

Chapter 6: Introduction to Deductions

TRUMP ACCOUNTS (1 of 2)

01.Core Concepts

• Trump Accounts are a tax-advantaged savings account created for minors under age 18 enacted under the OBBBA of 2025. • Contributions are made by: • Legal Guardian • Parent • Adult Sibling • Grandparent • Other eligible contributors (subject to future guidance) • Contributions up to $5,000 in 2026 • Certain types of contributions may not count toward the max limit.