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Get your taxes done using TurboTax
You should not be reporting the UTMA on your tax return. The UTMA belongs to your child, and any income or gains from the account should be reported on the child's account (if the income is enough to require filing). You may be the custodian, which means you can manage the account, but the account, the investments, and the income belong to the child.
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‎February 23, 2021
5:06 PM