I want to gift $400 of VFIAX to minor's UTMA at Vanguard. The minor doesn't already hold VFIAX. Will it need to meet the $3000 minimum requirement?
If the above doesn't work, what other options do I have to gift $400? Say I convert my VFIAX to VOO first, then gift VOO shares. Since VOO is over $500 now, will it just be a fractional share that gets gifted?
For conversion of mutual fund to ETF, is it entirely tax free or will there be fractional shares that need to be liquidated and trigger a tax event?
If the above doesn't work, what other options do I have to gift $400? Say I convert my VFIAX to VOO first, then gift VOO shares. Since VOO is over $500 now, will it just be a fractional share that gets gifted?
For conversion of mutual fund to ETF, is it entirely tax free or will there be fractional shares that need to be liquidated and trigger a tax event?
Statistics: Posted by aha — Thu Jan 09, 2025 1:54 pm — Replies 2 — Views 115