Question
Kiddie Tax Question
Hello,
Here's the situation:
1 - Kids UTMA account was through a bank brokerage which divested the brokerage function
2 - All funds were in the bank S&P 500 fund
3 - Bank transferred the accounts to another provider
4 - The other provider stunk. I moved the accounts to Schwab
5 - The movement to Schwab liquidated the accounts, sent a check, which Schwab then invested into the Schwab S&P 500 fund
The liquidation resulted in a lot of capital gains. Is there any way to deal with the tax bite, or just stuck?
