Ok, here is what I found out.....

My "iTunes" Apple ID is my "real" one for purchasing ect....

My other one I probably set up for Applecare or registering one of my macs.

So for now, if daughter gets iPhone she can use my iTunes Apple ID and have access to everything. She won't use iCloud under that id because I may want to someday, and if she would set up her own Apple ID she would not have access to our iTunes purchases.

Thanks everyone for all the input.

Merry Christmas peace to all!!