Why bother with 529 plan if you can use an IRA for kids tuition expenses (give the assumption that I'm not currently maxing my 401k, nor doing backdoor 401k)? Wouldn't it be more tax efficient to use the 401k / rollover IRA?

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529 offers state tax benefits

likesmart

D1 and SM1 - I agree, it's a very good point I didn't realize, good incentive for many people. Just not in my state.

Contribution limits

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Personally I max my 401k and I have state tax benefits.

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Distributions from IRA to fund education show up on FAFSA as "income", whereas distributions from 529 do not. So in theory, they may hurt younger children's chances for getting more financial aid if their older siblings' tuition was covered by IRA distributions.

smarthelpful

Sure. I'm not currently able to max out MBDR (an option at KPMG) so I'd probably view it differently if I was hitting all maxes.

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