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So back to my original question, is there any good reason to not shift between funds in my daughter's UTMA to take long term gains? This appears to be a good strategy to reduce future taxable income by 10's of thousands. Other than filing another simple tax return, it seems like a no brainer.

Seems fine to me. While we're on the subject of no brainers, why in the world do you have a bond fund in a 12 year old's account?

Rule Your Retirement Home Fool
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