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Started By
Message
re: New 2024 Law | 529 rollover to Roth IRA
Posted on 12/25/22 at 6:49 am to Grievous Angel
Posted on 12/25/22 at 6:49 am to Grievous Angel
quote:
That's like saying you should be able to move money freely between your 401k and your savings account.
It's YOUR money. Why should you not be able to do this?
2
Posted on 12/25/22 at 4:28 pm to I Love Bama
The government gave the tax benefit…could just as easily remove that section of code.
Posted on 12/26/22 at 5:59 pm to I Love Bama
quote:
It's YOUR money. Why should you not be able to do this?
I guess you can, but with stiff penalties and taxes if not done according to the withdrawal rules.
That's my point... 529 and Roth are both tax advantaged accounts, but both take in post-tax money and allow for untaxed growth. So in that sense it makes sense to be able to rollover unused funds from a 529 to a similarly structured roth.
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