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Greetings, Marthajoy, and welcome. You asked:

Your newsletter states that contributions may be made into an Education IRA regardless of the donors income. This is contrary to what I have previously read. Where may I find out what the rules really are??

I'm not sure what you're reading, but the rules for EIRA contributions may be found in IRS Publication 590 (Individual Retirement Arrangements) available for download at

If you are the donor, contributions you can make begin to phase out at an adjusted gross income level of $150K for joint filers and $95K for single filers. However, that phaseout range is essentially meaningless because all you have to do is gift the $500 to someone else who is NOT in the phaseout range so they may make the contribution for the child instead. And that person can actually be the child, too. In that sense, then, there is no limit on income.

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