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2015Saving for CollegeCustodial Accounts (TMA/UGA)Qualified Savings BondsAssets in a custodial account belong to the minor. A custodian, usually an adult relative, controls the assets until the minor
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What is custodial accounts utmaugma?
Custodial accounts UTMA/UGMA stands for Uniform Transfers to Minors Act/Uniform Gifts to Minors Act, which are accounts created for minors where an adult serves as the custodian.
Who is required to file custodial accounts utmaugma?
The custodian of the account is responsible for filing custodial accounts UTMA/UGMA.
How to fill out custodial accounts utmaugma?
To fill out custodial accounts UTMA/UGMA, the custodian must report the account transactions, income, and any changes in the account's ownership.
What is the purpose of custodial accounts utmaugma?
The purpose of custodial accounts UTMA/UGMA is to hold assets on behalf of a minor until they reach the age of majority and can take control of the account.
What information must be reported on custodial accounts utmaugma?
The custodial accounts UTMA/UGMA must report all transactions, income, and changes in ownership of the account.
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