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|Subject: Re: ugma account investing||Date: 5/24/1999 8:10 AM|
|Author: PJGeorge||Number: 10720 of 77291|
I wonder how he handles the tax issues. UGMAs are not tax deferred accounts, so the kids need to report dividends and capital gains every year. Perhaps he does their taxes for them, and they never read the forms.
He only buys stocks that do not pay dividends, thus no capital gains.
He could do the student loan forms for his kids but you're right, later in life, his kids would have to do educational assistance forms for their kids and they would not be reporting assets that existed.
I'll ask him about that.
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