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O
olga-santoro-wes
Level 3
March 12, 2025
Question

How do I enter Dividends from a custodial account a grandparent set up for a grandchild, in Proconnect?

  • March 12, 2025
  • 1 reply
  • 8 views

An individual opened a custodial (UGMA) for a grandchild.   Are the parents responsible for paying the taxes or can the gran parents enter the interest and dividends on their personal tax return?

Thanks

    This topic has been closed for replies.

    1 reply

    sjrcpa
    sjrcpa
    Level 15
    March 12, 2025

    Goes on parents' or kid's return. Kiddie tax may apply.

    The more I know the more I don’t know.
      O
      olga-santoro-wesAuthor
      Level 3
      March 12, 2025

      Yes that's what I thought thank you.  No reporting at all for the GP

        George4Tacks
        George4Tacks
        Level 15
        March 12, 2025

        Grandparents made a gift and possibly should have filed a gift tax return at that time (depending on how much given.) Afterwards all income is income of the child, subject to Kiddie Tax (depending on age.)

        Answers are easy. Questions are hard!
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