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The IRS doesn’t impose a contribution limit on 529 plans, unlike for other tax-advantaged accounts such as 401(k)s and Roth IRAs, though some limits do exist.
The 529 funds you roll over count toward your IRA annual contribution limit. You can move a maximum of $35,000 from a 529 plan to a Roth IRA during your lifetime.
Annual 529-to-Roth transfers are limited to the lesser of the annual Roth IRA contribution limit ($7,000 in 2024 for adults under 50) or the recipient's actual earnings during that year.
How a 529 works. These college savings plans offer tax-deferred growth and tax-free withdrawals when used for qualifying expenses, which for post-secondary education include tuition, fees and ...
The maximum amount that can be rolled over into a Roth IRA from a 529 plan is $35,000 per beneficiary, per account. But, for 2024, the total contribution can’t exceed $7,000 per beneficiary ...
The account must have been opened for at least 15 years, and the rollover is limited to the maximum annual Roth contribution. Rollovers are capped at a $35,000 lifetime maximum. Rollovers are ...
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