Anonymous
03/29/2018 19:33
Subject: Re:VA529 gift of non public company shares?
Anonymous wrote:Anonymous wrote:I don't think that is how 529s work. They are all state-sponsored mutual funds.
You're probably right. Maybe I need to start an IRA or roth IRA for each kid to receive it?
You can only contribute to a Roth IRA for a kid if they have earned income. Not sure about traditional IRA, but if you can contribute you probably can't use for college without penalty.
Anonymous
03/29/2018 19:24
Subject: Re:VA529 gift of non public company shares?
Anonymous wrote:I don't think that is how 529s work. They are all state-sponsored mutual funds.
You're probably right. Maybe I need to start an IRA or roth IRA for each kid to receive it?
Anonymous
03/29/2018 18:30
Subject: Re:VA529 gift of non public company shares?
I don't think that is how 529s work. They are all state-sponsored mutual funds.
Anonymous
03/29/2018 17:30
Subject: VA529 gift of non public company shares?
One of our friends wants to give our kids some shares in their VA529 account. Any thing we should be aware of for such a gift? It will be about $5k per kid. Also it will be shares of company that is not public. Not sure how that works. Any advise would be welcome!