Daughter is 24 & Air Force. College 529A to roll over to her savings. I am the owner. We know of penalty/taxes. Better to transfer ownership to Daughter, or I sell?

[Anonymous_]

@Hal_Al 

[Hal_Al · Accepted solution]

Transfer ownership to Daughter or, if you are still the owner, have the plan sent the money to her, as plan beneficiary, instead of you (the plan owner).  She should be in a lower tax bracket than you and the "kiddie tax" does not apply because of her age.

There is no age limit for withdrawals.  Alternatively, you (or she as new owner) can leve the money there for the future.  She may go back to school, or the money can be used for her children or other close relatives (beneficiary change).