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How to open a 529 plan. You can open a 529 plan directly through a specific state’s plan or through a broker. You can choose from multiple 529 plans, though you may lose some state tax ...
The 529 plan must be open for at least 15 years before attempting the 529-to-Roth rollover. And funds deposited in the last five years and their associated interest are not eligible for this transfer.
Unfortunately, this presents a problem because there are penalties for using money in 529 plans for non-educational expenses. Until now, that is. Thanks to a new rule from the IRS, up to $35,000 ...
But now, there's less pressure to spend down a 529 plan on education costs, since the penalty-free rollover option exists. Saving in a 529 plan could help make college far more affordable once ...
Image source: Getty Images. As of 2025, the contribution limits to 529 college savings plans range from a low of $235,000 to a high of $575,000. And here are the states with the highest ...
Owners of 529 college savings plans got a potentially lucrative boost from the $1.7 trillion omnibus spending bill that passed in late December, thanks to a measure that allows unused money in the...
Say this couple have two kids and each has a 529 plan with $36500, they’d still have money left over in the accounts after they reached the $35,000 lifetime limit. What else can you do with a ...
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 ...
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