changes in status of custodial accounts

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1 total messages Started by R.KELLEY Thu, 11 Sep 1986 13:09

#961

Author: R.KELLEY
Date: Thu, 11 Sep 1986 13:09

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I heard this week that the new tax bill changes the status of custodial
accounts that one sets up in children's names. Instead of the income being
taxed as the child's income, I am told it is to be taxed as the parent's
income (obviously at a higher rate...).  Somehow, this aspect of the bill
has escaped me until now.  I would like to learn more details about this,
and find out if one can get around it somehow.  If you know about this,
please mail me references of articles, or the details of which you are
aware.  Thanks.

			Robert P. Kelley
			ihnp4!homxb!kelley
			AT&T Bell Labs, Holmdel, N.J.

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