On Jan 4, 11:49Â*am, Herb Smith <smithf...[at]aol.com> wrote:
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its own reward but it is much sweeter if deductable. Cheers, Leo./

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Herb Smith wrote:
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OP could also potentially use the vehicle of a 529 to indirectly make
the payments and perhaps gain some tax advantage, depending on the state
(and age of the grandson, perhaps? I don't recall all the rules ottomh).

Would be against _state_ tax if applicable, however, not federal.

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On Jan 4, 7:32�am, leo <wlsla...[at]yahoo.com> wrote:
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Whether you reimburse him for the expenses or pay them directly to the
school, they are still nondeductible GIFTS. However, direct payments
to the educational institution are NOT subject to the $12,000 per year
gift limit and do not have to be reported on a 709 Gift Tax return.

A gift of education should be its own reward.


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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I have been reimburseing my grandson for college tuition payments that
he has previously paid by credit card. He is not my dependent. The
reimbursements are made from my IRA withdrawals. Do I have any prayer
of recouping any of the expenses as Income Tax deductions? If I
changed the form, ie paid tuition direct to the university, would it
change a negative answer? Thanks for a very informative newsgroup.

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