The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/are-contributions-tax-deductible-by-the-15544475.aspx

Subject:  Re: Education IRA Date:  8/10/2001  9:20 PM
Author:  Charlie48K Number:  53236 of 121261

Are contributions tax deductible by the contributor for contributions to an education IRA?

No. See IRS Publication 590. The earnings are tax free though and so are the withdrawls if used for qualifying educatinal expenses. I've heard that can even be for a computer used in K to 12.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us