Help! This is my second year out of college and, as part of the transition into adulthood, I took over an account into my own name that had previously been held as a custodial account through my mother (thanks, mom!).I closed the custodial account in 3/99, and the 1999 consolidated statement is showing over $11,000 in realized proceeds! Yikes! Even though I never saw a penny of that money and immediately reinvested it all in the same exact stock under my own name, do I owe income taxes on over $11,000 "additional income"?I don't know if this is specific enough to garner a firm answer, but I could use any hints out there!Thanks, Fools!siobhan
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra