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#5
11-01-2005, 02:06 PM
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 Re: sell I-bonds for kid's college or pay cash? Rich Carreiro wrote: - quote - > "Bucky" <uw_badgers[at]email.com> writes:
And I wasn't aware of this. Thanks for pointing it out.> > anoop wrote: > > > They are fully tax-exempt when used to pay for qualified higher > > > education expenses. > > > Oh, didn't know that. Thanks. > Well, there are a bunch of caveats on that, particularly > an adjusted gross income limitation on the parents. Anoop |
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#4
11-01-2005, 01:13 PM
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| Re: sell I-bonds for kid's college or pay cash? "Bucky" <uw_badgers[at]email.com> writes: - quote - > anoop wrote:
Well, there are a bunch of caveats on that, particularly> > They are fully tax-exempt when used to pay for qualified higher > > education expenses. > Oh, didn't know that. Thanks. an adjusted gross income limitation on the parents. -- Rich Carreiro rlcarr[at]animato.arlington.ma.us |
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#3
11-01-2005, 05:23 AM
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| Re: sell I-bonds for kid's college or pay cash? anoop wrote: - quote - > They are fully tax-exempt when used to pay for qualified higher
Oh, didn't know that. Thanks.> education expenses. |
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#2
10-31-2005, 10:42 PM
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| Re: sell I-bonds for kid's college or pay cash? Bucky wrote: - quote - > Also, I-bonds do not have state and local tax, but you still have to
They are fully tax-exempt when used to pay for qualified higher> pay federal tax upon redemption. education expenses. Anoop |
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#1
10-31-2005, 10:36 PM
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| Re: sell I-bonds for kid's college or pay cash? Bucky wrote: - quote - > joe.spam.weinstein[at]gmail.com wrote: > > I have the cash for their fees, should I pay cash, and keep > > the I-bonds for eventual retirement funds after that, or > > should I sell I-bonds to get the no-tax profit so far? > If you have enough cash for it, why would you sell your I-bonds? > Also, I-bonds do not have state and local tax, but you still have to > pay federal tax upon redemption. He'll want to sell them eventually, and if cashed in the same year he has offsetting educational expenses, they are exempt from federal taxes (a lot of restrictions apply.) So the reason he might sell the I-bonds even if he has enough cash on-hand is to get at the earnings tax-free. It was a good question. Bob |
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10-31-2005, 09:45 PM
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| Re: sell I-bonds for kid's college or pay cash? joe.spam.weinstein[at]gmail.com wrote: - quote - > I have the cash for their fees, should I pay cash, and keep
If you have enough cash for it, why would you sell your I-bonds?> the I-bonds for eventual retirement funds after that, or > should I sell I-bonds to get the no-tax profit so far? Also, I-bonds do not have state and local tax, but you still have to pay federal tax upon redemption. |
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#-1
10-31-2005, 06:32 PM
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| sell I-bonds for kid's college or pay cash? Hi all. I have some of the 2% base rate I-bonds, which are doing well. When I start having college expenses for my two kids (starting in about two years, and going for 8 years), if I have the cash for their fees, should I pay cash, and keep the I-bonds for eventual retirement funds after that, or should I sell I-bonds to get the no-tax profit so far? Assume that neither choice would unbalance my holdings. thanks for the musings, Joe |
| Tags |
| cash, college, ibonds, kid, pay, sell |
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