TTMA selling stock

[suzubell]

I opened an investment account in my son’s name many years ago with Capital One. Its now with E Trade. It’s not big — just a few grand. I’m tired of having it and would like to reinvest the money. Should I just liquidate the account? Can I roll it over into another account (529? His Roth?)? I never know what to do with this account, so I just do nothing.

[Deleted]

www.irs.gov/taxtopics/tc553

The IRS website is actually pretty user friendly to me about stuff like this. It can be liquidated then you can open a 529 or a ROTH but I don't think you can roll anything over to avoid taxes. This very well may be tax free if it's a few grand.

[suzubell]

Nov 11, 2021 20:29:24 GMT -5 @lemonlover said:

www.irs.gov/taxtopics/tc553

The IRS website is actually pretty user friendly to me about stuff like this. It can be liquidated then you can open a 529 or a ROTH but I don't think you can roll anything over to avoid taxes. This very well may be tax free if it's a few grand.

Thanks! It’s what I was thinking. Best to liquidate and start again. It is only a few grand. I appreciate the advise and source!