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Thanks to a new law, the SECURE 2.0 Act of 2022, you can now transfer funds from your child’s 529 plan to a Roth Individual Retirement Account (Roth IRA). While 529 plans were established under ...
This 'wealth transfer' to the grandkids makes things a little complicated. ... A 529 plan is a tax-advantaged savings plan designed to help parents or grandparents cover the costs of their child ...
Starting in 2024, unused 529 funds can be rolled into a Roth IRA tax-free, thanks to the SECURE 2.0 Act, giving families more flexibility with college savings.
The 529 education savings plan is getting a lot more interesting in 2024. Starting this year, unused money in a 529 plan can be converted into a Roth IRA, eliminating one of the major defects in ...
Through a 529 Rollover, the funds from a 529 plan transition into a Roth IRA, a tax-free individual retirement account. This strategy capitalizes on benefits from both types of accounts.
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Nestled in the $1.7 trillion spending bill passed last week is a nugget of good news for Americans with unused funds in their 529 plans that help families save for college.