DW and I are considering gifting some money each year for each of our 4 grandkid's college funds. Oldest is 6 years old, youngest will be here in March 2018.
Anyway, if we withdrew money from our tax deferred accounts and deposited them into their 529 - or whatever they're called -accounts, is it still taxable income for us? Are there any legal ways to minimize tax impact?
Anyway, if we withdrew money from our tax deferred accounts and deposited them into their 529 - or whatever they're called -accounts, is it still taxable income for us? Are there any legal ways to minimize tax impact?