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CLR422
New Member

I have a securities account I contribute to for my son. He is under 18 and I am the custodian. Do I file on my return and if so, how do I indicate that the recipient ID is his?

custodian ugma accounts
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RichardK
New Member

I have a securities account I contribute to for my son. He is under 18 and I am the custodian. Do I file on my return and if so, how do I indicate that the recipient ID is his?

If your sons income meet certain tests you can include your sons income on your return using Form 8614, if your sons income does not these tests, your son must file a tax return, click here for the IRS page Tax on a Child's Investment and Other Unearned Income (Kiddie Tax).

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RichardK
New Member

I have a securities account I contribute to for my son. He is under 18 and I am the custodian. Do I file on my return and if so, how do I indicate that the recipient ID is his?

If your sons income meet certain tests you can include your sons income on your return using Form 8614, if your sons income does not these tests, your son must file a tax return, click here for the IRS page Tax on a Child's Investment and Other Unearned Income (Kiddie Tax).

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