A grade-A way to make tax-free contributions toward education.
With the cost of education ever increasing, parents, grandparents or friends can help lessen the education burden with tax-free contribution to this unique kind of IRA.
A non-deductible $2,000 a year can be contributed for each child, and the earnings stay federally tax-free as long as they are used to pay for a child’s qualified education expenses.
Please note, Kearny Bank does not provide legal or tax advice. Please contact your tax professional with any tax related questions. Visit the IRS.gov for further information.