I am about to close a UGMA account for my son and receive a check. It is mid-November. I have a CHET 529 for our son that we set up earlier this year by closing out another UGMA account we had for him. That said, I could put $2,000 in and get a tax credit for this year. I am hoping to be able to hold onto the check from this mid-November UGMA acct close and deposit it into the CHET account in early January to get a 2016 credit. Anybody know if I can do that? How long can I keep the money (check) before I have to put it someplace for my son?
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