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Author: ORA100 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 120826  
Subject: Custodial Account/Capital Gain Date: 9/26/2012 2:38 PM
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I have two kids with custodial accounts and I recently made some changes to the accounts and generated some Capital Gains. I am married and filing jointly. I am trying to see how these will be taxed. I will give one example and figure out my second son. I generated LTCG of $6439.62 and STCG of $232.71. In addition he has a Capital Loss Carryover of $610. He will be 17 this year and as of right now he has no other income - he may get a part time job after football season and may have a few hundred dollars of income. Thank you very much for the help.

Doug
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