a made small investment several years ago in the name of my granddaughteer and it became due to her on her 18th birthday. Is there anything further I need to do as fare as IRS is concerned?

[ErnieS0]

It depends. If the investment earns taxable income and its now under your granddaughter’s name and social security number, then she will begin reporting any earnings.

She may have to file a tax return or include any income on her parents return.

Check your tax documents you received this year and see whether they are still under your name or your granddaughter’s. If they are under your name, contact the investment company to have them transferred.

Depending on the size of the investment and how it was set up, there may be gift tax considerations. We’d have to know more about the type and structure of the investment, such as if this was a Uniform Gif to Minors Act (UGMA) account. Your investment company can probably give you an overview.