It’s possible to cash out I Bonds tax free for college expenses or transfer to a 529 plan but you must meet an income limit and some other requirements.
Latest Blog Posts
Better Inflation Protection with TIPS Than I Bonds
Consider investing in TIPS for inflation protection after maxing out I Bonds. They have no purchase limit, and you can invest through a mutual fund or ETF.
How To Buy Treasury Bills & Notes Without Fee at Online Brokers
Treasuries pay a higher yield and are easier to buy than CDs right now. Here’s how to buy them without fee at Fidelity, Vanguard, and Charles Schwab.
The Best Tax Software for Foreign Tax Credit (IRS Form 1116)
I tested TurboTax, H&R Block, FreeTaxUSA, and OLT on doing a Form 1116 for the foreign tax credit. Four software packages gave three different answers.
Too Much Hassle in Claiming Foreign Tax Credit on IRS Form 1116
Holding international stock funds in a taxable account gives you foreign tax credit, but claiming it on IRS Form 1116 has become too much hassle.
When TurboTax and H&R Block Give the Wrong ACA Subsidy
If you’re self-employed on ACA health insurance, TurboTax and H&R Block software may give wrong numbers for the subsidy. Use this calculator instead.
Backdoor Roth: Planned vs Unplanned
If you did an unplanned backdoor Roth, clean up and make it planned from now on.
Long Box Spread Trade vs Buying Treasury Note or CD
A long box spread can be a good alternative to buying a Treasury note or a CD if you don’t screw up your order. Here’s how to do it at Fidelity.
Short Box Spread Trade vs Margin Loan at Fidelity
A short box spread trade effectively gets you a loan at a low fixed rate for a fixed term. Don’t do it if there’s any chance you’ll make a mistake.
TurboTax 2021 CARES Act 2.0 $600 Charity Donation Deduction
You need some patience to find the right place in TurboTax for the $300/$600 charity donation deduction for 2021 when you take the standard deduction.