In 2021, the first $1,100 of a child's income generally is tax-exempt, the next $1,100 of unearned income generally is taxed at the child's tax rate, and unearned income over $2,200 generally is taxed at the parent's tax rate if the child is under 18, or the child is age 18 and does not have earned income that is more than half of his or her financial support, or is a full-time student who is at least age 19 and under age 24 and who does not have earned income that is more than half of his or her financial support if at least one parent is living at the end of the tax year and the child is not filing a joint return for the tax year.