Putting money into a UTMA account is not a taxable event. What is taxable is the earnings the money earned in the UTMA account.
A 1099-DIV means the account earned some dividends and/or capital gains. That's what's taxable.
As awesome Tax Expert @PattiF said you may to file a form to report your child's income on the child's return or on your tax return.
See: Topic No. 553 Tax on a Child's Investment and Other Unearned Income (Kiddie Tax)
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