Kentucky Sale of stock
Description
How to fill out Sale Of Stock?
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FAQ
Although there are certain restrictions, no laws prohibit people from investing when they are underage. It is generally impossible for minors to open their own brokerage account, but custodial accounts and joint accounts allow young people to begin their investing journey with varying amounts of adult supervision.
To recap: The minimum age to invest in stocks and other investments completely on your own is 18 years old. However, minors are allowed to make investment decisions within a joint brokerage account shared with an adult.
Once you're ready to start investing, it's time to open and fund a brokerage account. Anyone at least 18 years old can open an online brokerage account. People who are younger than that will need a parent's assistance. Parents can either open a brokerage account on their teen's behalf or set up a custodial account.
The Securities and Exchange Commission oversees securities exchanges, securities brokers and dealers, investment advisors, and mutual funds in an effort to promote fair dealing, the disclosure of important market information, and to prevent fraud.
Key takeaway: An individual must be at least 18 to open their own brokerage account and buy stocks, but an adult can help set up a custodial investment account on a minor's behalf.
To start investing in stocks on their own, your kid will need a brokerage account, and they must be at least 18 years old to open one. They can start earlier than this, but they'll need a parent or guardian to open a custodial account for them. What is a custodial account?
Before you can be licensed through the Kentucky Securities Division, a broker-dealer firm must sponsor you. After you become sponsored, your broker-dealer firm will help you to register through the Financial Industry Regulatory Authority (FINRA) Central Registration Depository (CRD).
