Can I rollover and IRA to 529 college plan?
Is it possible to roll out an IRA (currently a money mkt fund at a broker I no longer wish to use) into my kids 529 plans with Fidelity ??
Is it possible to roll out an IRA (currently a money mkt fund at a broker I no longer wish to use) into my kids 529 plans with Fidelity ??
Permalink Submitted by Alan Spross on Thu, 2009-10-08 20:52
No, you would have to distribute the IRA in a taxable distribution. Moreover, the distribution would not qualify for the higher education penalty exception because 529 contributions are not included in the definition of qualified higher education expenses, presumably because the expenses are not current expenses.