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Financial Planning / Tax Strategies


Subject:  Custodial Accounts Date:  11/18/1998  9:09 AM
Author:  mhmalloy Number:  6355 of 127549

I am considering opening a custodial account for my 5 year old son. If I decide to close the account after 5 or 6 years and cash it in, how will I be taxed on the funds. Alternately, if I need to partially redeem securities within the account intermittantly before he reaches majority age, how am I taxed on those redemptions?
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