Search found 118 matches

by Megamill
Sat Sep 16, 2023 8:26 am
Forum: Personal Finance (Not Investing)
Topic: College Tax Credits - is this correct??
Replies: 25
Views: 2601

Re: College Tax Credits - is this correct??

teen persuasion wrote: Sat Sep 16, 2023 7:14 am Yes, you can claim LLC that last year.
For us, LLC wasn't very useful during college years. It's only 20% on up to $10k college expenses, so you need to pay more OOP than with AOTC; that fifth year's bill is only one semester, so half. And LLC is nonrefundable, where AOTC is 40% refundable. Lastly, our kids generally became independent before the end of college, so we weren't even claiming AOTC for 4 years on our taxes; they would be claiming it once they were not our tax dependents.
Do the eligible "college expenses" for LLC include dorm, meal plan, and books?
by Megamill
Fri Sep 15, 2023 8:51 am
Forum: Personal Finance (Not Investing)
Topic: College Tax Credits - is this correct??
Replies: 25
Views: 2601

Re: College Tax Credits - is this correct??

cshell2 wrote: Fri Sep 15, 2023 8:41 am Keep in mind that you cannot use 529 funds and claim the credit on the same expenses, so you need to cashflow that 4K outside of 529 savings. You can however claim the credit on expenses paid with student loans.
We never did 529s, but what about interest earned from iBonds? Can the interest from iBonds be deducted as well as claiming one of the credits or is that double dipping? Also, regarding iBonds, if the bond says parent name WITH child name, is the interest still deductible when using for college tuition or does the bond have to be issued only to the parent's name for it to be deductible?
by Megamill
Fri Sep 15, 2023 8:10 am
Forum: Personal Finance (Not Investing)
Topic: College Tax Credits - is this correct??
Replies: 25
Views: 2601

Re: College Tax Credits - is this correct??

You don't need any form from the school, although the school will likely send a 1098-T to the student, and the information on that form is useful but not completely dispositive for purposes of AOTC or LLC because there are qualified expenses that are not included on the 1098-T. You'll file Form 8863 with your tax return. It does require certain information about the school; see page 2. https://www.irs.gov/pub/irs-pdf/f8863.pdf Note that in the years in which you're claiming the credits for both students that you'll submit a copy of page 2 for each student and combine their information on page 1. Any decent tax prep package should handle this. ETA: Consistent with the post below, I've found having my student download their itemized statemen...
by Megamill
Fri Sep 15, 2023 8:04 am
Forum: Personal Finance (Not Investing)
Topic: College Tax Credits - is this correct??
Replies: 25
Views: 2601

Re: College Tax Credits - is this correct??

teen persuasion wrote: Thu Sep 14, 2023 8:08 pm Some schools bill in such a way that there's no fifth year to claim. My DD1's college billed fall semester in early August, and spring semester in early December. That is, the bills were due Dec 8. So the full first year was paid before Dec 31.

It was convenient, because then each year you claimed AOTC you were using both semesters' payments, not a half year on either end of college. My other kids' schools didn't issue spring bills until January, so no way to have a full year of bills freshman / senior years.
Good points, but for the colleges where Spring semester is due in January, then one can claim the LLC for that 5th year, right? So a possible total of $12k in credit per kid (AOTC x 4 + LLC x 1)?
by Megamill
Thu Sep 14, 2023 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: College Tax Credits - is this correct??
Replies: 25
Views: 2601

Re: College Tax Credits - is this correct??

Cool! Thanks! One more question--which form is needed by the school to file with the tax return?
by Megamill
Thu Sep 14, 2023 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: College Tax Credits - is this correct??
Replies: 25
Views: 2601

College Tax Credits - is this correct??

Assuming our MAGI is under the limits for American Opp Tax Credit and Lifelong Learning Credit and all the other requirements/criteria are met, is this how it could work with 2 kids in college with some overlap?

SchYr TaxYr Kid #1 Kid#2 Total
2020-21 2020 AOTC NONE 2.5k
2021-22 2021 AOTC NONE 2.5k
2022-23 2022 AOTC NONE 2.5k
2023-24 2023 AOTC AOTC 5.0k
2024-25 2024 LLLC AOTC 4.5k
2025-26 2025 NONE AOTC 2.5k
2026-27 2026 NONE AOTC 2.5k
2026-27 2027 NONE LLLC 2.k
by Megamill
Sat Aug 05, 2023 10:44 am
Forum: Personal Finance (Not Investing)
Topic: American Opportunity Tax Credit - 4 academic years spanning 5 tax years?
Replies: 24
Views: 2934

Re: American Opportunity Tax Credit - 4 academic years spanning 5 tax years?

Can you still claim the student as a dependent for tax year 2023 even if the student made $20k in income (due to internship)? Isn't there something about $4k income limit to be able to claim them as a dependent?
by Megamill
Sun Apr 16, 2023 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Paid for contacts from FSA, eligiblie for rebate
Replies: 8
Views: 872

Re: Paid for contacts from FSA, eligiblie for rebate

I don't ever submit expenses for reimbursement from my FSA. I just pay directly with the cc that they issued to me so I paid for the contacts already but if I can't legally keep the rebate then I won't bother submitting the documentation for it because the process to reimburse the FSA is a PIA. I'll call the admin and ask the question to be sure. Thanks all!
by Megamill
Sat Apr 15, 2023 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Paid for contacts from FSA, eligiblie for rebate
Replies: 8
Views: 872

Re: Paid for contacts from FSA, eligiblie for rebate

So it’s not considered double dipping (in the eyes of the IRS)?
by Megamill
Sat Apr 15, 2023 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Paid for contacts from FSA, eligiblie for rebate
Replies: 8
Views: 872

Re: Paid for contacts from FSA, eligiblie for rebate

The contact mfr has an offer of a $150 rebate that the optical place gave to me, but I paid for the contacts from my FSA. I thought this rebate would be similar to a refund from a provider for over payment. I won't bother sending in for the rebate if by law the $150 would need to be returned to the FSA because it's a huge pain to have to do that.
by Megamill
Sat Apr 15, 2023 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Paid for contacts from FSA, eligiblie for rebate
Replies: 8
Views: 872

Paid for contacts from FSA, eligiblie for rebate

The contact mfr is offering a rebate but I paid for the eye exam and contacts from FSA. Does the rebate have to be returned to the FSA?
by Megamill
Sat Mar 25, 2023 10:21 am
Forum: Personal Investments
Topic: Who gets the tax loss in this situation?
Replies: 8
Views: 857

Re: Who gets the tax loss in this situation?

Good points. I think since we only have 30 days for one of the options, it makes sense to do the in-kind transfer to his account and then reassess based on his other holdings later in the year. If I could have taken the loss, I would have liquidated and given him the proceeds to reinvest.
by Megamill
Sat Mar 25, 2023 9:51 am
Forum: Personal Investments
Topic: Who gets the tax loss in this situation?
Replies: 8
Views: 857

Re: Who gets the tax loss in this situation?

Thanks both. Yes, DS is in a low tax bracket (FT student) so we will likely opt to transfer in-kind to his own account and hopefully it will recover in time, otherwise he could sell at a loss if he has gains on his other holdings that he wants to offset.
by Megamill
Sat Mar 25, 2023 9:12 am
Forum: Personal Investments
Topic: Who gets the tax loss in this situation?
Replies: 8
Views: 857

Who gets the tax loss in this situation?

I opened a brokerage account (UTMA) for DS several years ago which unfortunately is sitting at a large loss. He is no longer a minor and therefore legally entitled to the assets. So the options are to either transfer to a new account solely in DS's name or liquidate. Does anyone here know if we choose to liquidate, will the parents get to claim the tax loss or will DS?
by Megamill
Fri Jun 04, 2021 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with insurance check after already paying from FSA?
Replies: 9
Views: 798

Re: What to do with insurance check after already paying from FSA?

Yes Silk, the check is made out to me but I feel like cashing it would be double dipping. So Chuckles, somehow the insurance check needs to get deposited into my FSA. What a pain.
by Megamill
Fri Jun 04, 2021 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with insurance check after already paying from FSA?
Replies: 9
Views: 798

What to do with insurance check after already paying from FSA?

I had to go for a specialist consult and was told that they require payment on date of service so I paid with my Limited Use FSA card and then received a check from my dental insurance a few weeks later. I checked various FAQ pages but could not find this specific question. Anyone here happen to know proper procedure or do I just need to call the insurance co?
by Megamill
Mon Feb 15, 2021 12:31 pm
Forum: Personal Investments
Topic: Does TD send 1099 for iBond interest after redemption?
Replies: 14
Views: 841

Re: Does TD send 1099 for iBond interest after redemption?

ok so if I redeemed an electronic iBond in January of this year, should the 1099 be available on the TD site now, or do I have to remember to download it next year when filing 2021 taxes?
by Megamill
Mon Feb 15, 2021 12:22 pm
Forum: Personal Investments
Topic: Does TD send 1099 for iBond interest after redemption?
Replies: 14
Views: 841

Does TD send 1099 for iBond interest after redemption?

It's probably been answered on here already but I kinda need a quick answer to this. thanks!
by Megamill
Sat Dec 12, 2020 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: [Can I Retire In 4 Years?]
Replies: 8
Views: 2241

Re: 4 More Years??

tj wrote: Sat Dec 12, 2020 12:41 pm I don't see why you couldn't retire now.

You are not that far from claiming social security.

Your projected social security at FRA covers your annual expenses.

Therefore, you will have a tiny withdrawal rate after SS starts, therefore you can take a larger withdrawal rate initially.


If it was me, I'd retire tomorrow, unless I preferred working over not working.
I don't think it's feasible to retire now because of the college costs. We want the kids to graduate without any debt.

Wondering if we need to start thinking about changing AA on the retirement accounts or just let them keep riding?
by Megamill
Sat Dec 12, 2020 11:59 am
Forum: Personal Finance (Not Investing)
Topic: [Can I Retire In 4 Years?]
Replies: 8
Views: 2241

[Can I Retire In 4 Years?]

Plan is to work 4 more years and then call it quits. Please assess: Debt: NONE (house and vehicles paid) Age (in 4 years): DH 65, DW 60 Current Snapshot Retirement Balances (Total = 1,414k): NOTE: AA is 100% stocks except the 401k which is 80/20 also NO International except in 401k @ 15% 401k: 566k r401k: 31k rIRAs: 282k IRAs: 505k HSA: 30k (NOT currently invested) Non-Retirement Balances (Total = 515k): MM: 50k, CDs: 465k Pension - NONE College Savings for 2 kids (NO 529s): MM: 23k, iBonds: 53k (cash-flowing the rest) Contributions 2021 and beyond (Total 56.2k) : rIRAs: 14k 401k: 27.5k (includes employer match) r401k: 6.5k (catchup) HSA: 8.2k (includes employer match) SS Estimates: DH: @62 yo: 1,600 @FRA 2,400 @70 yo: 2,900 DW: @62yo: 2,20...
by Megamill
Sun Nov 22, 2020 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Redeploying funds from CDs
Replies: 3
Views: 427

Re: Redeploying funds from CDs

I'm thinking all in VTSAX. For some reason I thought there would be extra paperwork needed deposits over $10k.
by Megamill
Sun Nov 22, 2020 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Redeploying funds from CDs
Replies: 3
Views: 427

Redeploying funds from CDs

I've got a couple CDs that just matured and I chose to cash them in rather than renew. I'm thinking of depositing the funds in a brokerage account (different institution than where the CDs are from), but is there some "red flag" that happens when you deposit more than $10k that I need to be aware of?
by Megamill
Sun Nov 01, 2020 9:58 am
Forum: Personal Investments
Topic: Fidelity HSA
Replies: 34
Views: 6205

Re: Fidelity HSA

So I opened the HSA with Fidelity and requested the transfer from my employer's HSA provider. Estimated time that the funds will be deposited @ Fidelity is 2 weeks. I notice that some posters have mentioned doing a rollover to get the $ into the Fidelity HSA, but I initiated a transfer. I hope that I did this correctly--requested a transfer and not a rollover. It was super easy on Fidelity's website-took about 10 minutes. So this new (Fidelity) HSA is in my name and the comment from livesoft about being able to contribute an extra $1k per year (due to over 55 catch-up of DH) really caught my attention. Would this be true in my situation which is: Still maxing HSA through employer with bi-weekly contributions + employer match. New HSA @ Fide...
by Megamill
Fri Oct 23, 2020 2:47 pm
Forum: Personal Investments
Topic: Fidelity HSA
Replies: 34
Views: 6205

Re: Fidelity HSA

music to my ears :happy
by Megamill
Fri Oct 23, 2020 2:35 pm
Forum: Personal Investments
Topic: Fidelity HSA
Replies: 34
Views: 6205

Re: Fidelity HSA - what about filing taxes?

So by having 2 active HSAs (one with the custodian that my employer uses where all my contributions will be made and one with Fidelity strictly for an investment account), will this complicate filing taxes each year? Anyone know?
by Megamill
Fri Oct 23, 2020 2:06 pm
Forum: Personal Investments
Topic: Fidelity HSA
Replies: 34
Views: 6205

Re: Fidelity HSA

Also don't plan to use the Fidelity HSA for any medical expenses, in fact I'll tell them not to even send me a debit card (if that's possible).
by Megamill
Fri Oct 23, 2020 1:47 pm
Forum: Personal Investments
Topic: Fidelity HSA
Replies: 34
Views: 6205

Fidelity HSA

I've been maxing out a (family) HSA for a few years (via my employer HDHP) and typically cash flow any out of pocket medical expenses. I've been too lazy to invest any of it because it seems like they've made it so complicated to do so and I don't see any decent fund choices. So I'm seriously thinking of opening a personal HSA at Fidelity and doing a transfer. I already have a Fidelity brokerage account and my DS has his Roth IRA also at Fidelity so I'm more comfortable with the fund choices through Fidelity, not to mention there are no fees, I'm told with having an HSA at Fidelity. My plan has been to let the HSA funds grow to use later in retirement for medical expenses for future me and DH. Does it make sense to dump it all into the Fide...
by Megamill
Wed Sep 16, 2020 5:45 am
Forum: Personal Investments
Topic: Where to start - advising my DS #2
Replies: 28
Views: 2430

Re: Where to start - advising my DS #2

FWIW, my DS is a few yrs younger and earned about 3,500 last year. I opened a Roth IRA for him @ fidelity and match his contributions. So he contributed 1,750 and I matched that for 2019 all in FZROX, and that’s the plan until he finishes college.
by Megamill
Tue Sep 01, 2020 9:16 am
Forum: Personal Finance (Not Investing)
Topic: College Costs and Cash Flow
Replies: 9
Views: 1140

Re: College Costs and Cash Flow

DS started last week at a local (private) university. We were pleasantly surprised by the very generous academic scholarships that he was awarded which brought the costs down below what our state's flagship would cost. He is commuting so we are saving approx $10k/year on room and board. After week 1, he is pretty overwhelmed with the course workload also was recruited to play a sport so he has that additional time commitment which is substantial. So he won't be working his part-time job at least not this semester. I wasn't shocked at the cost of books - $400+. I bought him a new laptop for HS graduation, which has come in very handy because all of the professors are using online portals for assignments, quizzes, etc. Basically everything is...
by Megamill
Wed Aug 12, 2020 10:23 pm
Forum: Personal Finance (Not Investing)
Topic: College
Replies: 25
Views: 2628

Re: College

DS will be starting as originally planned. I’ll be paying the Fall tuition and fee bill tomorrow. No changes were sticking to the plan that he had pre-covid. He will be commuting which is was always the plan because it’s so close to home and saves us about $10k per year.
by Megamill
Sat Jul 11, 2020 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Unemployment Claim in Virginia / Severance Pay
Replies: 11
Views: 1393

Re: Unemployment Claim in Virginia / Severance Pay

Klang,
I’m sorry about your situation. I know you’re well prepared but all the best to you anyway!
by Megamill
Tue May 19, 2020 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: SS claiming strategy when younger spouse is higher earner
Replies: 12
Views: 945

Re: SS claiming strategy when younger spouse is higher earner

celia wrote: Tue May 19, 2020 6:08 pm I think a "SS claiming strategy" is secondary to a "Roth conversion strategy".

Are you planning on having both people do Roth conversions during early retirement?
Yes for sure will wanna do Roth conversions.
by Megamill
Tue May 19, 2020 10:14 pm
Forum: Personal Finance (Not Investing)
Topic: SS claiming strategy when younger spouse is higher earner
Replies: 12
Views: 945

Re: SS claiming strategy when younger spouse is higher earner

Any bh's care to advise on when best to claim ss when the younger spouse is the higher earner? So let's say DH is 5 years older than DW and she is the higher earner and these are the estimates from SSA: DH: @62 yo: 1,600 @FRA 2,400 @70 yo: 2,900 DW: @62yo: 2,200 @FRA 2,900 @70 yo: 3,700 Estimated total $$ when DH turns 65 at which time he will "retire" and go on Medicare and either DW will retire at that time as well or maybe work a couple years longer (if she doesn't become a target of ageism). Also assuming kids are fully launched at the time DH turns 65: Taxable: $600k Roths (IRAs + 401ks): $250k Non-Roths (IRAs + 401ks): $900k HSA: $75k Debt: $0 (house and cars paid off) Estimated annual expenses: $60k Longevity is not necess...
by Megamill
Tue May 19, 2020 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: SS claiming strategy when younger spouse is higher earner
Replies: 12
Views: 945

Re: SS claiming strategy when younger spouse is higher earner

JDCarpenter wrote: Tue May 19, 2020 4:09 pm Megamill,

We are in a similar position to you. Given that we don't project to need social and possibility of long life, we are both planning to claim at 70 (even though opensocialsecurity and other tools advise me, the relatively low-earning elder male, to claim somewhat earlier). Basically, we look at it as longevity insurance rather than as a means to maximize the statistical return probabilities.
Yeah I’m torn between maximizing the SS and pulling in guaranteed monthly checks and also manage withdrawals in as tax efficiently as possible. It’s all so complicated.
by Megamill
Tue May 19, 2020 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: SS claiming strategy when younger spouse is higher earner
Replies: 12
Views: 945

Re: SS claiming strategy when younger spouse is higher earner

delamer wrote: Tue May 19, 2020 4:06 pm Why did you have the word “retire” in quotes in the initial post? Will DH actually stop working or not? Because if not, that might change the recommendations.

Our situation was somewhat similar to the one you described, except there also were pensions to consider. Given the numbers in terms of assets and expenses, why not have DH take Social Security at 65 (assuming he actually stops working) and then have DW defer to age 70.
Lol I just can’t imagine us really retiring so that’s why I probably put the word in quotes. But I think 65 makes sense because of Medicare for DH and then possibly use the HSA $ for DW’s health insurance during the gap years until Medicare. So if DW defers SS until 70 then DH will be 75.
by Megamill
Tue May 19, 2020 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: SS claiming strategy when younger spouse is higher earner
Replies: 12
Views: 945

Re: SS claiming strategy when younger spouse is higher earner

good point, Watty. And thanks to the other posters for the links.
by Megamill
Tue May 19, 2020 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: SS claiming strategy when younger spouse is higher earner
Replies: 12
Views: 945

SS claiming strategy when younger spouse is higher earner

Any bh's care to advise on when best to claim ss when the younger spouse is the higher earner? So let's say DH is 5 years older than DW and she is the higher earner and these are the estimates from SSA: DH: @62 yo: 1,600 @FRA 2,400 @70 yo: 2,900 DW: @62yo: 2,200 @FRA 2,900 @70 yo: 3,700 Estimated total $$ when DH turns 65 at which time he will "retire" and go on Medicare and either DW will retire at that time as well or maybe work a couple years longer (if she doesn't become a target of ageism). Also assuming kids are fully launched at the time DH turns 65: Taxable: $600k Roths (IRAs + 401ks): $250k Non-Roths (IRAs + 401ks): $900k HSA: $75k Debt: $0 (house and cars paid off) Estimated annual expenses: $60k Longevity is not necessa...
by Megamill
Sun Apr 26, 2020 11:42 am
Forum: Investing - Theory, News & General
Topic: So bottom is probably behind us....right?
Replies: 709
Views: 76652

Re: So bottom is probably behind us....right?

TP, paper towels, and liquid soap are FINALLY on the shelves at my grocery store. I'll take that as a positive indicator!
by Megamill
Thu Apr 02, 2020 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: CARES Act & Long Term Unemployed...
Replies: 5
Views: 501

Re: CARES Act & Long Term Unemployed...

For clarification, this person's unemployment benefits ended a few months ago--way before COVID19. She's not sure if she can reapply because her job didn't end because of the pandemic.
by Megamill
Thu Apr 02, 2020 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: CARES Act & Long Term Unemployed...
Replies: 5
Views: 501

CARES Act & Long Term Unemployed...

Anyone know if someone who has been unemployed long before the plague hit can reapply for unemployment benefits under the CARES Act? I haven't seen any language addressing that specific scenario. Surely if the previously unemployed had a hard time finding work, they are dead in the water now.
by Megamill
Tue Mar 31, 2020 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: College in fall
Replies: 549
Views: 56805

Re: College in fall

Just wondering if the financial crisis caused by this pandemic will negatively impact scholarships and other awards...I don't have any experience with this during the '08-'09 economic downturn, except that i recall college enrollments shot up along with tuition because demand was so huge from all the newly unemployed...
by Megamill
Tue Mar 31, 2020 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: College in fall
Replies: 549
Views: 56805

Re: College in fall

What about renewable scholarships that have been awarded for Fall 2020 incoming freshmen? Anyone worried that they will remain?
by Megamill
Sun Mar 29, 2020 9:14 am
Forum: Personal Finance (Not Investing)
Topic: College in fall
Replies: 549
Views: 56805

Re: College in fall

DS was awarded significant merit scholarships to a small, private college and I'm wondering if the scholarships will still be there with all this talk about projected enrollments to decline, endowments to drop, etc. Any other parents of HS seniors concerned about this?
by Megamill
Sat Mar 28, 2020 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 48039

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

Can a self-employed, "one man shop" (so no other employees but himself, being a W2 employee) apply for the loan to pay himself his lost wages and rent, utilities and then have that all forgiven? If yes, does he simply go to his bank where his business account is to apply? Basically the answer is YES. This is the whole purpose of these two bills. I think they seemed to have learned from 2008 crisis. Any compensation over $100,000 can not be part of the Payroll cost. And yes, you will need to go through the bank that takes SBA loan guarantee (these lenders are called 7(a) lenders). So, if a self-employed (S-corp) person applies for this PPP loan to cover lost wages, rent, utilities due to his business being shut down by order of st...
by Megamill
Sat Mar 28, 2020 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 48039

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

Can a self-employed, "one man shop" (so no other employees but himself, being a W2 employee) apply for the loan to pay himself his lost wages and rent, utilities and then have that all forgiven? If yes, does he simply go to his bank where his business account is to apply?
by Megamill
Fri Mar 27, 2020 10:48 am
Forum: Personal Investments
Topic: Time capsule
Replies: 13
Views: 1035

Re: Time capsule

Did you actually mean today's date for your note datestamp (instead of 2/27/20)?
by Megamill
Thu Mar 26, 2020 9:40 am
Forum: Investing - Theory, News & General
Topic: My experience with timing the market
Replies: 4
Views: 727

Re: My experience with timing the market

fwiw, I swing traded itot so far for one "cycle". After a a few huge down days, bought 1,000 shares (cash i had in ira) then waited until yesterday to sell into the rally. Goal is to make a few k per week to make up the huge losses in my other holdings (which i will not sell), taking advantage of the volatility but knowing i could be stuck waiting longer than a week to "cash out" or watching a follow-on rally day like today and regretting that i could have made an extra $2k if i had waited until today to sell. i must admit, i don't know nothing and after a few huge down days in a row, it can be stressful but i have full confidence in the resilience of the USA so thinking i'm at least spreading my risk across the entire m...
by Megamill
Tue Jan 28, 2020 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Anyone here paid college tuition w/ i Bonds AND still claim AOTC?
Replies: 10
Views: 1416

Re: Anyone here paid college tuition w/ i Bonds AND still claim AOTC?

livesoft wrote: Sat Jan 25, 2020 12:58 pm There is no proof needed that you used the $7K of I-bond for college tuition (QHEE), but you should have the 1098-T from the college for the tuition and fees which should be good enough. I keep the 1098-T and print out statements from the college business office showing that the bill was paid.
good to know, thanks livesoft!