529 to Roth
Assume that a parent has funded a 529 for a child who decides against postsecondary education. Could the parent name himself as the beneficiary of the 529, then convert it to his Roth?
Assume that a parent has funded a 529 for a child who decides against postsecondary education. Could the parent name himself as the beneficiary of the 529, then convert it to his Roth?
Permalink Submitted by Alan - IRA critic on Wed, 2024-04-03 02:58
The IRS has not yet issued guidance involving these transfers when there has been a change of beneficiary.