Kiddie tax

From: researcher <malibu.ron@xxxxxxxxxxx>
Date: Wed, 05 Sep 2007 12:52:28 -0700

We opened a UGMA account at a stock brokerage house for a our 9 year
old grandson 3 years ago. He has a capital gains on his stocks and we
would like to sell it and reinvest in something else. My
understanding is a 9 year old full time student is subject to a
maximum 5% (Kiddie Tax) capital gains tax rate. Is this correct.

.

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