How to report income for UTMA account
My son is 19 and has no income except i nterest from a UTMA account. He is below the threshhold for reportable income on his own but I am confused as to how I should deal with his UTMA income. Since he is over 18, I assume he is on his own as far as reporting is concerned, but my SS# is still listed as his UTMA custodian. Can I simply ignore the UTMA income in this case and not report it on my account?