The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Gift to 529 plan||Date: 10/6/2012 5:44 PM|
|Author: vkg||Number: 116750 of 120412|
I can't comment on whether or not contribution to the 529 plan is a gift to you.
It might be reasonable to open a separate plan with them or your son as the owner.
Depositing funds is the easy part. The Fidelity form at the link below should be all that is needed.
Since the end of year is approaching, gift limits might not be a concern. Each of your parents can gift the annual limit of $13,000 to you (annual total $26,000) and if you are married to your spouse (annual total of $52,000).
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|