Utma Limits 2024. Florida bumps the age range up to 21, but the rules of the utma are completely different. These custodial accounts, which are named for the uniform gifts to minors act (ugma) and the uniform transfers to minors act (utma), let investors take advantage of the lower.
In 2024 that amount increases to $1,300. Contributions can be made by the minor or anyone else.
The Federal Gift Tax Exclusion Yearly.
You may want to use a custodial account as part of your college saving strategy.
Tax Year 2023 And 2024 Custodial Account Tax Rates;
Contributions can be made by the minor or anyone else.
Ugma And Utma Account Rules.
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In 2024 That Amount Increases To $1,300.
You may want to use a custodial account as part of your college saving strategy.
The Uniform Transfers To Minors Act (Utma) Provides A Simple, Inexpensive Way To Transfer Ownership Of Cash And Other.
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