Edcuation Saving Accounts

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Yahoo Bot
Posts: 22904
Joined: Sun Oct 18, 2020 11:38 pm


Paul:
Please look more closely at 541(b)(5). Contributions to educ. IRAs are not
property of the estate if they occurred more than two years before the
filing of bk. If between one and two years before, they are exempt up to 5K
and with one year they are not exempt.
I schedule them with the total value of the account showing in the
description, then showing the contribution for year two and for year one
separately. I then value them for the amount that is not exempt.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com

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Yahoo Bot
Posts: 22904
Joined: Sun Oct 18, 2020 11:38 pm


Education Saving Accounts are not property of the estate. It is scheduled in
Schedule B. What is the filing requirement in accordance with Section 521(c)?
Thanks
Paul Horn, ESQ., CPA
Attorney at Law
Certified Public Accountant
1045 E. Valley Blvd., Suite A215
San Gabriel, CA 91770
626-695-7310
877-872-9997--fax
www.paulhornlawfirm.com
Education Saving Accounts are not property of the estate. It is scheduled in Schedule B. What is the filing requirement in accordance with Section 521(c)? Thanks Paul Horn, ESQ., CPA Attorney at LawCertified Public Accountant1045 E. Valley Blvd., Suite A215San Gabriel, CA 91770626-695-7310877-872-9997--fax www.paulhornlawfirm.com

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