IRA to 529 plan
I have a grandmother who wants to use her IRA for her grandson and add it towards his 529 plan, is this possible and what steps are required?
Thanks
I have a grandmother who wants to use her IRA for her grandson and add it towards his 529 plan, is this possible and what steps are required?
Thanks
Notifications
Permalink Submitted by Alan - IRA critic on Mon, 2018-10-29 23:09
She cannot transfer the IRA to the 529. If she wants to fund a contribution she would have to take a taxable distribution from the IRA and make a cash distribution to the 529 subject to the gift tax rules.