The 529-to-Roth Rollover: Turn Up To $35,000 of Leftover College Money Into Tax-Free Retirement
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The post The 529-to-Roth Rollover: Turn Up To $35,000 of Leftover College Money Into Tax-Free Retirement appeared first on 24/7 Wall St..
If you have a 529 college savings plan with leftover money, the IRS now lets you move up to $35,000 of it into a Roth IRA without taxes or the usual 10% penalty on non-qualified withdrawals. That is the 529-to-Roth rollover, and it turned on for the first time in January 2024 thanks to SECURE 2.0. If your kid got a scholarship, skipped college, or simply did n
If you have a 529 college savings plan with leftover money, the IRS now lets you move up to $35,000 of it into a Roth IRA without taxes or the usual 10% penalty on non-qualified withdrawals. That is the 529-to-Roth rollover, and it turned on for the first time in January 2024 thanks to SECURE 2.0. If your kid got a scholarship, skipped college, or simply did n
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