UTMA[uniform gift to minor]accounts are taxable?,my 13yr old has as gain of about $2200 for the sale of stocks

Question: my 13yrs old has gain of $2200 for the sale of stocks.do we owe taxes now or later when he takes over the account

Answer:
Yes, income, including gains from sale of stocks from UTMA accounts are taxable. The taxes would be owed for the year the stocks were sold.

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This question is answered on the irs website.

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I believe you asked this question a while ago and it still stands that the taxes are paid when the stock is sold.

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