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Author: HatchetJack One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121114  
Subject: Re: UGMA cost basis when minor reaches ages of m Date: 11/24/1999 1:00 PM
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"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?"
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That is not correct; the basis is unchanged on reaching the age of majority, usually 18.
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