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After years of investing in your children’s college education, you’re ready to reach into your 529 college savings plan and send your kid off to the best years of his or her life. But while ...
A 529 saving plan is well-known for its ability to help parents and students deal with the cost of education. While it was originally set up as a way to pay for the spiraling costs of college, the ...
To take advantage of this new option, families with 529 plans must adhere to the following rules: The 529 plan must be open for at least 15 years before attempting the 529-to-Roth rollover.
529 college savings plans offer several tax benefits and the potential to build your child’s college fund over time. Unlike with several investment accounts, the federal government allows your ...
Thanks to new rules set out in the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act of 2022, unused 529 funds can be transferred to the 529 beneficiary’s Roth IRA account.
A 529 college savings plan, also known as a qualified tuition plan (QTP), is one of the best choices for meeting student educational expenses. Two of the 529 plan’s best features are tax ...
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Thanks to a new rule from the IRS, up to $35,000 in unused funds in a 529 plan can be rolled over into a Roth IRA per beneficiary in a lifetime. This allows families to use unused funds to help ...