olga-santoro-we s
		
		
		
		
		
		
		
		
	
			
		
		
			
					
		
	
	
			Level 3
		
	
				
		
	
		
			
    
	
		
		
		03-12-2025
	
		
		12:09 PM
	
	
	
	
	
	
	
	
	
	
	
	
	
	
		
	
				
		
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An individual opened a custodial (UGMA) for a grandchild. Are the parents responsible for paying the taxes or can the gran parents enter the interest and dividends on their personal tax return?
Thanks
			
		
			
	
	
			
				
		
		
			olga-santoro-we s
		
		
		
		
		
		
		
		
	
			
		
		
			
					
		
	
	
			Level 3
		
	
				
		
	
		
			
    
	
		
		
		03-12-2025
	
		
		04:52 PM
	
	
	
	
	
	
	
	
	
	
	
	
	
	
		
	
				
		
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Yes that's what I thought thank you. No reporting at all for the GP
			
		
			
	
	
			
				
		
		
			George4Tacks
		
		
		
		
		
		
		
		
	
			
		
		
			
					
		
	
	
			Level 15
		
	
				
		
	
		
			
    
	
		
		
		03-12-2025
	
		
		06:00 PM
	
	
	
	
	
	
	
	
	
	
	
	
	
	
		
	
				
		
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Grandparents made a gift and possibly should have filed a gift tax return at that time (depending on how much given.) Afterwards all income is income of the child, subject to Kiddie Tax (depending on age.)
Answers are easy. Questions are hard!