BrittanyS
Expert Alumni

Retirement tax questions

Yes, the rollover can count towards your 2024 account if the remaining requirements are met for a 529 rollover.  For 529 contributions, the following items must be met for the contribution to count as not taxable.  See the information provided by my529 regarding rollovers:

 

  • Account has been open for at least 15 years
  • The my529 beneficiary and the Roth IRA owner are the same person
  • The rollover doesn't exceed the Roth IRA owner's following contribution limits
    • Does not exceed the Roth IRA owner's earnings for the chosen year
    • Does not exceed applicable Roth IRA Contribution Limits
    • Does not exceed an aggregate rollover amount of $35,000
    • Does not exceed the total amount contributed to the 529 accounts before the five-year period prior to the rollover

For more information, see the link below:

 

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