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Can I roll money from an ordinary IRA or 401K account into an education IRA? If I do are there any tax consequences or penalties? I have a great deal of money in an ordinary IRA, but I haven't even begun putting money into an education IRA. At a maximum of $500 per year it sounds like I could only save enough to send my daughter to the local community college for two semesters. She unfortunately (for my portfolio) is a Dartmouth legacy and class Valedictorian, and will blow through a $500 per year IRA paying her freshman tuition. If I can't roll my ordinary IRA into her education IRA, is there some other way short of a basketball scholarship that I could pay for her college with pre-tax dollars. Help me you Fools!!!!
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