A UGMA or UTMA account allows the assets to be taxed at the minor's income tax bracket. With the increase in the age from 18 to 24 where the kiddie tax is imposed, the tax advantage of a UGMA or UTMA is decreased.
com UGMA Acronym for Uniform Gift to Minors Act. The act allows minors to buy and own... UGX The ISO currency code for the Ugandan Shilling. Learn more about Uganda and the Ugandan Shilling at GoCurrency.com UIT Unit Investment Trust.
Uniform Gifts to Minors Act - UGMA
An act that allows minors to own property such as securities. The IRS allows persons to give so many thousands of dollars to another person without any tax consequences.
In general, the various state level incarnations of the Uniform Gift to Minors Act, or UGMA, will establish a custodian who is charged for managing and overseeing the assets for the minor.
-U- Uniform Gifts to Minors Act (UGMA)/Uniform Transfer to Minors Act (UTMA)
Adopted by most states, the act permits a parent or guardian to give cash or securities to a minor child.
Unit Investment Trust ...
Uniform Gift to Minors Act (UGMA)
Definition: The Uniform Gift to Minors Act (UGMA) allows minors to own securities, such as stocks.
Uniform Gifts to Minors Act (UGMA): A law adopted by many states that established a simple process for distributing gifts in custodial accounts (rather than trusts) to minors.
Uniform Gifts to Minors Act (UGMA)
Definition:
Legislation that provides a tax-effective manner of transferring property to minors without the complications of trusts or guardianship restrictions. ...
Uniform Gift to Minors Accounts (UGMA) - A method of securities ownership whereby parents or other relatives may contribute cash or securities to children.
Estate and Gift Tax
Gifts of Stock
Non-Resident Aliens and US Holdings
Reporting Fund Distributions
Reporting Option Trades
Short Sales Treatment
Tax Swaps
Uniform Gifts to Minors Act (UGMA)
Wash Sale Rule ...
In other words, you've given up some long-term control (as well as ownership), but it's usually a better deal from a tax standpoint. There are two kinds of custodial accounts: the Uniform Gift to Minors Act (UGMA) and the Uniform Transfers to Minors ...
Other tax-advantaged ways to save for college include Coverdell education savings accounts, Uniform Gifts to Minors Act ("UGMA") accounts, Uniform Transfers to Minors Act ("UTMA") accounts, tax-exempt municipal securities, and savings bonds.
 See also: Transfer, Investment, Stock, Investing, Securities
  
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