This is so confusing - I was told by my financial person that setting up an UTMA as a grandparent (and custodian), the grandchildrens' parents wouldn't be involved. Now it appears that they are the ones who have to either file the child's 1099 DIV in their own returns, or sign the 1040 if there is one filed for the child. So, I can't sign a 1040 for the grandchild if I am the custodian on the account?
