Solved
I have a custodial account disbursement that I used to pay for college. Is that taxable?
I received a 1099-B from the bank for this account
Yes. A custodial account does not get the same tax breaks as a formal college savings("529") plan.
But the 1099-B amount is not the taxable amount. That is what the stock or mutual fund was sold for. The taxable amount is the capital gain on the sale. Long term (> 1 year) capital gains are taxed at lower rates than ordinary income.
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