I am currently a custodial for my kid's accounts. I opened a Columbia Strategic investor Fund when they were born. My accountant recently told me that the accounts have accumulated enough funds that my kids (age 8 and 6) might have to file taxes next year. What are my options? I am interested in rolling over these funds to a 529 program. What is the best way to transfer these funds without paying taxes and paying a the minimal amount?
Thanks