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Author: laibach One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 8108  
Subject: Still UGMA/EdIRA restriction? Date: 6/8/2001 11:11 AM
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With the new tax bill, is there still the restriction on not being able to have both an EdIRA and a UGMA account simultanously for a child?

Laibach
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Author: japper Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3887 of 8108
Subject: Re: Still UGMA/EdIRA restriction? Date: 6/8/2001 12:09 PM
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Laibach,
I think you may be confused, you can have both UGMA accounts (these are custodial accounts) and EdIRA. You cannot have both 529 Plans and EdIRA contributions in the same year. Until I see the final legislation I don't know if both will be allowed to have contributions in the same year.

Jenn/japper

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Author: bobw0 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3888 of 8108
Subject: Re: Still UGMA/EdIRA restriction? Date: 6/8/2001 12:19 PM
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In 2002, both will be allowed.
See Title IV, Subtitle A, Sec. 401 (g)(2)(D)

Here's the bill:

http://www.house.gov/rules/1836cr.pdf

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