This is to the best of my knowledge:Roth IRA: Tax free withdrawal of the $25000 within 5 years or via a spanned RMD over their lifetime, as your kids are not your spouse (so they can't take over the account the same way your spouse could)Traditional IRA: $25000 as new cost basis, withdrawal rules like above for Roth, but since it's a tax deferred account, they still pay tax at withdrawal on all distributionsTaxable Account: $25000 is their new cost basis, tax will be due on gains from the new cost basis
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