bobarino
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 07 Jan 2012
Location: Arizona
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| FBO/UGMA mutual fund |
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I have an FBO/UGMA mutual fund account set up in my daughters name. She recently turned 18 which makes the account legally hers. We would like to redeem all shares (to use for college expenses).
What is the best way to redeem shares to avoid the most tax penalties? Can I redeem the shares being that it is legally her account now or is it better for her to redeem shares?
Thanks in advance!
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