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Greetings, Tomatogrwr, and welcome. You asked:

<<Does one have to fund an educational ira before the end of the year? >>

Yes, the contributions for an EIRA must be made by 12/31 for each year.

<<If both parents earn income is it just $500/child for both parents or $1,ooo/child for both parents ?>>

It's neither. A maximum of $500 from all contributors combined is allowed for each child. Thus, one person may contribute $500 or 500 persons may contribute $1 to the child's EIRA, but they cannot contribute $500 each.

<<Can the ed ira be done in addition to the Roth IRA?>>

Yes it can.

<<When you set up an ira is it best to have the Fed,and State taxes taken out by Waterhouse,or do it yourself?>>

Taxes pertain only to distributions from an IRA. While funds stay inside that IRA, there are no taxes to worry about. On distribution, the custodian may make a withholding for income taxes should you so desire.

For details on IRAs, see our IRA area at

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