Effective in 2024, certain assets in a 529 college savings account can be rolled over tax-free into a Roth IRA for the 529 beneficiary where the account has been maintained for more than 15 years.
Rollovers are subject to Roth IRA annual contribution limits as to the beneficiary, but not subject to the income limits. Rollovers are limited to a lifetime limit of $35,000 and apply only to contributions to the account (and earnings) before the five-year period ending on the rollover date.
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