Last year I opened an UTMA account for my niece with $6,000. Do I need to report any dividends earned in my return or should that be on my sister's return?
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Last year I opened an UTMA account for my niece with $6,000. Do I need to report any dividends earned in my return or should that be on my sister's return?
Last year I opened an UTMA account for my niece with $6,000. Do I need to report any dividends earned in my return or should that be on my sister's return?
Assuming any interest or dividends are reported with your niece’s social security number they are reported on the niece’s return if she has a filing requirement which she probably will not have. In which case they would not be reported at all.
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