Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Pardon me for repeating my question, but I have an Education IRA for my young son. My mother has a 529 plan (NY) with herself as beneficiary. She said she 'intends' to change the beneficiary to my son. I would like to deposit another $500 into the EdIRAaccount, but wonder if that will create problems with the 529 transfer since she has deposited money in it for this year already. Basically can a contribution be made into both accounts in the same year if the beneficiary was different at the time the deposits were made? Thanks.
Print the post  

Announcements

Paying For School Guide
Trying to Tackle Tuition? The Motley Fool's Guide to Paying for School will help you fight those rising education costs.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.