"I have heard that when the minor of a UGMA account reaches the age of majority and converts the account to an individual account that they get a step up in cost basis for all assets in that account. Does anyone know if this is true?"=======================That is not correct; the basis is unchanged on reaching the age of majority, usually 18.
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