Schwab statement for dependent until AGE 21

[gfpstaxes]

I have a client with a dependent child show receives a Charles Schwab composite statement with a 1009-DIV, 1099-INT and 1099-B. The total income on the statement is only $737, so I don't think the Kiddie tax laws are n play here. My question is whether the parent should include it on their tax return or not. The Composite statement says on the front:
"(parent's name) CUST FOR (dependent's name) UTXUTMA UNTIL AGE 21"

but all the statements have the dependent's SS number on them.

Can anyone help me out here?

- Ky

[sjrcpa]

If this is the child's only income, the child is not required to file a tax return nor do her parents have to elect to include it on their return.

[BobKamman]

"Under Texas Uniform Transfer to Minors Act" (also called UGMA, for Gifts to Minors, in some states).  It is the child's property but an adult is the custodian.  The income belongs to the child and is correctly reported with the child's SSN.  Some states allow the age at which the custodianship ends to be set past 18 -- in this case, 21, but I think some even allow 25.  And of course, some parents don't tell the kids about it until they are 30 and get an IRS notice asking why they haven't reported the income.  

[gfpstaxes]

Ok the UTXUTMA makes sense. Is there any change now that the dependent (age 15) had $5,000+ income on a W-2 this year?