Mr. and Mrs. Kusra are in the top tax bracket. They have just had a baby. The Kusras plan to gift a corporate bond they currently own to the baby. The bond pays $2,100 of interest income per year. The Kusra family overall will save taxes if the bond is transferred to the child.
Answer the following statement true (T) or false (F)
True
Kiddie tax ramifications do not apply until the child has earned more than $2,100 of investment income.
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