The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Loss of Job||Date: 1/28/2006 2:16 AM|
|Author: catscanner||Number: 83115 of 121061|
My kids have no "job" but many years I have had to file taxe forms for the capital gains accrued on mutual funds. I calculate if it's better for me to claim it or them, some years it's me, others' it's them.
You don't get to pick and choose here. If the mutual funds are yours, you report the gains, losses, and income from the mutual fund. If the mutual funds belong to your children, they report the gains, losses, and income.
There's no choosing who will pay the least taxes here.
All funds are in UGTMA that are controlled by the grandfather.
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