Esa

General Q & A
1

Hi Mark and Matt

I am in california and make more than 200k in W2 wages. Being in california I do not want to open a 529 so opened ESA for my 11 yr old kid problem is how to fund it ? I do not know anyone earning less than 110k so that they can contribute to esa also my parents are overseas with no ssn. Can I gift my son $2000 so that he can contribute himself to his ESA, if so do he need to file CA and fed taxes ? Thanks in advance

2

If I cannot gift can my overseas parent gift him $2000 or contribute to his esa although they do are non resident with no ssn

3

Out of curiosity why dont you want to open a 529 since you live in Cali? Can’t you open one in any state still?

4

We covered this on the Directed IRA Podcast show today, November 13. Please get over to that show to hear our response. Thank you!! Mark and Mat. It will be live in the next 3-4 days.