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Subject:  Re: Combining Education IRA and State Savings Pl Date:  6/12/2000  11:02 AM
Author:  wsterry Number:  36482 of 127745

I understand I can't do it without a penalty, but the only penalty I seem to be able to find is this 6% excise tax on the excess contribution to the IRA.

The documentation for the state college savings plan (NY) indicates that if you do both, then you pay the 6% on the Ed IRA.
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