Paying For College: Wipe Out $28,000 In Capital Gains In Your Kid's UTMA Account

With the stock market at all-time highs, parents whose children will not qualify for need-based college aid can combine their investment gains with this gifting tax strategy to wipe out $28,000 in capital gains each year while a child is in college. That's a pretty good way to pay for college, and it can pay dividends in retirement, too.