529-Roth IRA Rollover
Can an otherwise eligible individual rollover $7k from a 529 to Roth IRA rollover in 2025 (on or before April 15) and count it towards a 2024 contribution (liked a direct Roth IRA contribution)?
Can an otherwise eligible individual rollover $7k from a 529 to Roth IRA rollover in 2025 (on or before April 15) and count it towards a 2024 contribution (liked a direct Roth IRA contribution)?
Permalink Submitted by Alan - IRA critic on Fri, 2025-04-11 11:22
Yes, the IRS has confirmed that this can be done on p 44 of Pub 590 A. This must be designated as a 2024 contribution with the Roth custodian when made, so the beneficiary must have earned income in 2024.