A few years ago I established UTMAs for each of my grandchildren, gifting Vanguard funds with large embedded capital gains. The idea was to gradually realized gains within the UTMAs - up to the (now) $1300 kiddie tax maximum, so that these gains would avoid taxation altogether. The process is working but in the interim I have unfortunately incurred large capital losses on another personal investment, such that I will likely never pay capital gains taxes again. Question - can I have the UTMAs gift the Vanguard funds back to me, in exchange for cash equivalent amount that could be invested in a sensible longer-term fund without having to worry about the annual capital gains realizations in the UTMAs?? (To be clear, this would be to no disadvantage for the minors...they would be in identical positions but with no embedded gains in their holdings).
Statistics: Posted by 209south — Thu Dec 19, 2024 11:32 am — Replies 0 — Views 18