@DonC1 wrote:
We have Custodial accounts with EDJones for each of the grandchildren. I am listed as the Custodian and (Grandchild) under the age of 21. The statements and Dividend reports are sent to me. Am I responsible for paying taxes on the dividends earned in those accounts?
Thank you,
Don
No. If the child is required to file a tax return they go on the child's own tax return.
(Custodial accounts normal end when the child becomes an adult at age 18.)
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
