I set-up (and started funding) my child's 529 accounts 20 years ago. I stopped putting new money in about 6 years ago. I am the account owner and she is the beneficiary. I would like to transfer some excess funds from the 529 to her Roth.
However, I will not know her exact 2023 income until AFTER December 31, 2024. I want to be careful not to transfer more than her income. It will be somewhere between $5000 and $8000 --- so I'd like to transfer the full $7000 if possible.
Can I do the rollover of the money after January 1st (but before April 15th)?
However, I will not know her exact 2023 income until AFTER December 31, 2024. I want to be careful not to transfer more than her income. It will be somewhere between $5000 and $8000 --- so I'd like to transfer the full $7000 if possible.
Can I do the rollover of the money after January 1st (but before April 15th)?
Statistics: Posted by TomP10 — Fri Nov 15, 2024 4:12 pm — Replies 3 — Views 147