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Financial Planning / Tax Strategies


Subject:  UTMA and the kiddie tax Date:  5/7/2008  7:37 PM
Author:  vladt Number:  100703 of 123001

I'm asking this question on behalf of a friend of mine whom I am trying to help resolve a tax situation. She will be in the 10% tax bracket this year, and is classified as a dependent. She has a UTMA account with approximately $14,000 dollars of which $4,000 is appreciation on mutual funds. She wants to be able to take out as much of the money as possible, and I'm trying to figure out what is the best strategy to follow with regards to taxes.