Parents putting money in ‘Trump accounts’ could get a $2,500 tax break. Here’s how.

Core Impact Points

• A proposed rule could allow families to do a 'discount Roth conversion' and receive a $2,500 tax break.
• The tax break is intended for parents who contribute to a 'Trump account,' a type of retirement savings account.
• The proposed rule is still in the proposal stage and has not been finalized by the IRS.
• The tax break could benefit families with high-income earners who are looking to save for retirement.
• The proposed rule could create a new tax planning opportunity for high-income families.