I am a Florida resident. If I take $18,000 from my IRA and put it into my nephews Connecticut CHET 529 Acct, can I claim $18,000 exclusion on my IRA distribution income ?
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I am a Florida resident. If I take $18,000 from my IRA and put it into my nephews Connecticut CHET 529 Acct, can I claim $18,000 exclusion on my IRA distribution income ?
I am a Florida resident. If I take $18,000 from my IRA and put it into my nephews Connecticut CHET 529 Acct, can I claim $18,000 exclusion on my IRA distribution income ?
No. The distribution from the IRA and the contribution to the 529 plan are independent of each other.
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