Recent content by retire2020

My son is a Resident Assistant for the 2023-2024 school year. For this position he had to go on campus two weeks before the fall and spring session started, night duties through out semester, staying on campus during holidays, event management and making sure everyone is safe. In return for his...

Yes. I have that info from her medical school and her lodging/boarding amount is < their published numbers. Med school is VERY expensive and her total cost of attendance is close to 85K/year. Even though I helped pay for most of her 10 years of studies(PharmD/MD) she will still graduate with...

Thank you so much for confirming!

Thanks cathy63. Good to know. Wouldn't this work if I save documentation for the expenses as follow? 15K for lodging and Boarding, 3K for books and 12K for tuition was used for 1099-Q(30K withdrawal from 529). That will then leave me 11K for tuition which should satisfy LLC requirement.

Thank you for the replies. I think I will have 529 distribution go to my daughter and let her file 1099-Q/1098-T. Also this way she can use LLC and save 2K on taxes. When I mentioned living expenses I meant lodging and boarding only. Her total qualified expenses shall be around 41K as...

Posted on BH and posting here for more clarity.. My daughter is graduating from medical school this May and will soon start her residency in June. So far, for last nine years she was dependent on my tax return but will be filing her taxes as independent for the first time next year for the year...

There will always be capital gain - year end capital gain distribution from all the mutual funds I own in my taxable accounts which I have no control on how much but based on the history its always around 20-25K. Also, I am retired so I sell some at year end to cover the expenses for coming...

Yep. I will also sell any losing equity between 2024-2028 if there is any.

I want to preserve the loss not wipe off against gain. As explained earlier, I want to use that loss between the year 2029-2034.

Thank you everyone for the clarification. I am out of luck in that case. Here is why I wanted to preserve the loss..... Original equity I bought was InfoSpace(INSP) back in 1997 before dot.com bust which went through several non-cash mergers over the years. Last merger was with AVTA. I knew...

I just logged into my Schwab account and found out that one of the stocks(AVANTAX INC) I've been holding over 25 years was sold due to mandatory merger. As a result I've over 125K capital loss. I hardly have any income but my capital gain distribution from other equities at year end would be...

3.9% WR at end of Dec to fund 2023 expenses.

4%

It had me excited until I found out that beneficiary had to have earned income. I will have couple kiddos in Medical School and know that they will not be able to have any earned income for four years from 2026-2030 so was hoping to fund their Roth IRA for those four years. Well…I will have...

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