wsterry writes (in part):If I contribute $500 per year to my daughters education IRA and also make a contribution to a state college savings plan, I'm required to pay a 6% excise tax on the eductional IRA contribution.I reply:As you surmised, you are missing something. If any contributions are made to your daughter's Education IRA in a year, then $500 is the maximum allowable contribution to all Education IRAs and 529 plans for her benefit for that year. --Bob
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra