first year into custodial acct. for 6 yr old grand-child with on-line brokerage firm. Have gained above$650. question: before years' end do i need to liquidate backinto the account then buy right back in to the samestock (still rising) in order to lock in the $650 of unearned income allowed to be tax free for '98 and start at capital gains "0" for '99 ?question: if i should be in for long term investment(several years in same stock) and don't liquidate backinto the account at each years end, do i forfiet thetax exempt $650 of unearned income allowable per yearor does the tax advantage accumulate through the lifeof the custodial account ? need to stay year to yearcurrent? thanks for any good insight.
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