What would you like to do?

What taxes are paid for a withdrawal on an UTMA account in NJ?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

The taxable amount of the distribution will be subject to the marginal tax rate of the owner of the UTMA account in NJ when the 1040 federal income tax return is completed correctly.
Thanks for the feedback!

You purchased a car for your niece and paid NJ sales tax now she has moved to pa and they are asking her to pay the sales tax in pa even though you paid it already in NJ what can you do?

From the Penn DOT website: "If you hold a valid title issued in another state and, have owned the vehicle at least 6 months before moving to Pennsylvania, you will not be requ

What are the taxes in NJ?

Since you asked this question in the "Home Buying" category, I will address this question best I can. Property taxes are different in each municipality of NJ. There are over 5

Can child benefit and child tax credits be paid into a post office card account?

For your income tax refund you can use the below information. Use Form 8888 if you want the IRS to directly deposit your tax refund to either two or three of your accounts at

Journal entry income tax paid from own account?

Accounting Treatment relating to Income Tax is as follows:   (1) At the time of paying advance tax:   Advance Income Tax Paid A/c Dr. To Bank  A/c   (2)At the t

Do you pay taxes upon withdrawal of cash accumulation account from whole life insurance policy?

Yes, to the extent that there has been an increase over the amount paid into the policy. It works similiar to an IRA and you will receive a 1099-R form for reporting purposes