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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Aug 14, 1969
Page
4
Parents can cut taxes by gifting college funds to minors under the Uniform Gifts to Minors Act. Custodianship lets the child bear the investment tax, avoiding parental taxation, while preserving the deduction for parental support. A custodian can manage securities, reinvest, or move proceeds to savings, with some state limits on expenses taxed to the estate.
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