Saving for College � 2021
Finn Kevin05 Apr, 2022Finance
Assets in a custodial account belong to the minor. Any income earned in a custodial account is taxed to the minor. A custodian, usually an adult relative, controls the assets until the minor reaches the age set by state law (21 in most states). Assets in a custodial account can be used to pay for education expenses for the minor.
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