901: Friday Q&A: Why You Should Maximize Tax-Deferred Plans, UTMA Accounts, Dividends on Whole Life, Asset Allocation, Business, Etc.
Radical Personal Finance
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Is the UTMA the Best Place for the Capital Gains?
Mike: My wife's grandfather set up the UTMA account for my two kids when they were born. He had them invested in some individual stocks like MedDOT that he'd like to get away from. If I sell those gains and over, or if I sell those for a gain, then over $1,100 on tax at the kids rate and then over $2,200 at my rate. Mike: Do you need to slow sell these individual stocks over several years? Is the UTMA the best place for those money? Assuming they want to access it before retirement?
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