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Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 752
Experience:  Certified Public Accountant
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I have a UTMA investment account with Vanguard, which is

Customer Question

Hello, I have a UTMA investment account with Vanguard, which is under joint custody between my father and I. All funds are invested in a single mutual fund. I am several years past the age at which the ownership of the funds can be transferred to me, although I have not yet made the transfer. The funds are still in the old UTMA account. I am looking to transfer those funds to a personal account at Vanguard, but before I do so, I want to make sure that when I transfer the funds, it will not trigger any unique tax situation or additional taxes that I would have to pay above the normal dividends and capital gains I have been paying for years. Thanks a lot.
Submitted: 2 months ago.
Category: Tax
Expert:  Mark Taylor replied 2 months ago.

Hi, my name is Mark. I will be happy to help you with your questions. As long as the investments remain in the single mutual fund there would not be any additional taxes besides your normal dividend distribution and capital gains. If you reposition your investment then there would potentially be additional capital gains.

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