Is the taxpayer taxed on dividend for which he is custodian for his child's dividend?
One child turned 21 in 2016, the other is still under 21.
He is claiming both children as dependents as they are full time students.
The DIV-1099 and 1099-B both have Father's name and next to it is written "custodian" and then it says "FOR (child's name)
This form 1099-B and the 1099-DIV have the children's social security # as recipient.
To me it seems that since this account is for the children's education expenses the father is not liable for tax.