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I just found out about an account opened under the UTTMA for my wife when she was a minor (now 27) -though I don't think she has control over it as my MIL still appears as the custodian on the account.

I've never heard of a UTMA account that can't be moved into the beneficiary's name at majority, which is well in your wife's rear view mirror. Step one is to do that, at which point she'll have access to whatever information she can glean. I wouldn't worry about unreported income since the IRS will be in touch if there's a problem. It may be easy to find out basis once she knows what's in the account.

Rule Your Retirement Home Fool
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