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    ballengerb1's Avatar
    ballengerb1 Posts: 27,379, Reputation: 2280
    Home Repair & Remodeling Expert
     
    #1

    Feb 5, 2011, 12:56 PM
    Grand kids UGMA accounts
    I bought each of my grand children stock. The stocks are still down but each shows about $150 in dividends. I assume because they have no other income I do not need to apy taxes or even file. Am I correct in this assumptiomn?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,778, Reputation: 846
    Senior Tax Expert
     
    #2

    Feb 5, 2011, 10:57 PM
    That is a correct assumption.

    With only $150 in dividends, no tax return is required.
    ballengerb1's Avatar
    ballengerb1 Posts: 27,379, Reputation: 2280
    Home Repair & Remodeling Expert
     
    #3

    Feb 6, 2011, 10:41 AM

    Thanks
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,778, Reputation: 846
    Senior Tax Expert
     
    #4

    Feb 6, 2011, 12:09 PM
    Glad to help!

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