We have one kid and looking at UTMA/UGMA, One person can gift about 15K per year, so a couple can give total $30K. Can this $30 ( or $15+$2k) can go in single UTMA/UGMA account ? or each person gifting need to have a separate account, assuming that each person is ok if someone else manage the account.

When I tried to open, it shows beneficiary as my kid and me ( not me and my spouse) as custodian, there is no option for joint custodian. So, can my spouse gift in same account or separate account ?

1 Answer 1


If your wife wants to manage these 2K for your kid she should open a separate account with her as a custodian. If she's OK with you being responsible for managing the money - she can deposit to the same account where you are the custodian. Either way the money belongs to the kid.

Gift tax is not relevant to your question, but you may be thinking of the "gift splitting" rule where you need to file form 709 just to report that the $17K gift you made was actually from you and your spouse. But that's not what you're doing, you both are giving separate gifts, so shouldn't be a concern.

  • thanks for answering, i have tried editing question, please feel free to edit
    – puzzled
    Commented Feb 2, 2022 at 2:36
  • @puzzled custodian is the person managing the account and being held responsible, I don't think it can be joint. You'll be personally liable to your child for any mismanagement. It has nothing to do with the source of the money. I'm not sure what's the source of your confusion.
    – littleadv
    Commented Feb 2, 2022 at 3:22
  • suppose a cousin of mine also wants to gift $x ( under $5k), can he just give check in name of the kid and that check be deposited in the account where my kid is beneficiary and I am the custodian and as custodian, I have already close to max out my yearly limit ?
    – puzzled
    Commented Feb 20, 2022 at 0:14
  • 1
    @puzzled yes, why not? The donor is your cousin, why are your limits relevant? The limits are per donor/donee, your being a custodian is irrelevant.
    – littleadv
    Commented Feb 20, 2022 at 0:21
  • 1
    @puzzled the limit is per donor/donee pair, with the tax liability on the donor.
    – littleadv
    Commented Feb 20, 2022 at 0:56

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