Author Topic: Easy Credit Card spend for those of us with tuition - Giftofcollege.com  (Read 14213 times)

Offline ckmk47

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #20 on: February 14, 2018, 03:33:06 AM »
No, it's per child. Here's the actual text from the law:
"The amount of cash distributions from all qualified tuition programs described in subsection (b)(1)(A)(ii) with respect to a beneficiary during any taxable year shall, in the aggregate, include not more than $10,000 in expenses described in subsection (c)(7) incurred during the taxable year."

Beneficiary is per child, not per family.
In NYS only $10,000 is deductible per couple. No matter how many kids.
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Offline Geshmak25

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #21 on: February 14, 2018, 06:05:06 AM »
In NYS only $10,000 is deductible per couple. No matter how many kids.
OP is only discussing in respects to MS, not state tax deduction. That seems to be the source of the confusion.
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Offline Denverite

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #22 on: February 14, 2018, 09:26:24 AM »
OP is only discussing in respects to MS, not state tax deduction. That seems to be the source of the confusion.

Correct

Offline Geshmak25

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #23 on: February 26, 2018, 07:29:44 PM »
Any DPs on whether giftofcollege GCs count towards amex sign up spend?
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Offline 12HRS

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #24 on: February 27, 2018, 12:40:34 AM »
Any DPs on whether giftofcollege GCs count towards amex sign up spend?

depends from where

Offline Geshmak25

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #25 on: February 27, 2018, 07:59:56 AM »
depends from where
OP mentioned TRU - does that work? Anywhere else?
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Offline 12HRS

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #26 on: February 28, 2018, 12:48:30 AM »
OP mentioned TRU - does that work? Anywhere else?

I assume TRU would still work towards SUB

Offline Geshmak25

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #27 on: March 04, 2018, 01:39:43 PM »
If I buy 10 of these will I get 1.5x on bp or do they get charged in separate $500 increments?
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Offline zow

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #28 on: March 05, 2018, 10:41:04 PM »
If I buy 10 of these will I get 1.5x on bp or do they get charged in separate $500 increments?

When I buy Amex GCs directly from Amex, if I spend >= $5k in a single order, regardless of the number of GCs in the order, I get 1.5x. I would think same rule applies here.

Offline davidrotts63

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #29 on: March 05, 2018, 10:42:28 PM »
When I buy Amex GCs directly from Amex, if I spend >= $5k in a single order, regardless of the number of GCs in the order, I get 1.5x. I would think same rule applies here.
Why would it? It depends how it's charged
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Offline zow

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #30 on: March 05, 2018, 10:44:58 PM »
Why would it? It depends how it's charged
If it's one swipe for a single purchase of $5k or more, regardless of how many GCs are in the order, why wouldn't it count as a purchase of $5k+?

Offline davidrotts63

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #31 on: March 05, 2018, 10:46:11 PM »
If it's one swipe for a single purchase of $5k or more, regardless of how many GCs are in the order, why wouldn't it count as a purchase of $5k+?
Depends how they bill it. I think that was the OPs question, how they bull
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Offline zow

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #32 on: March 05, 2018, 10:52:53 PM »
Depends how they bill it. I think that was the OPs question, how they bull
I see. I guess I'll have to TARB.  ;)

Offline Geshmak25

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #33 on: March 05, 2018, 11:03:12 PM »
I see. I guess I'll have to TARB.  ;)
Please do thanks
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Offline ushdadude

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #34 on: March 05, 2018, 11:16:12 PM »
So even in NYS you can use a 529 account to pay day school tuition?

Offline DTM

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #35 on: March 06, 2018, 10:06:27 AM »
I see. I guess I'll have to TARB.  ;)
What does the acronym TARB mean?

Offline davidrotts63

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #36 on: March 06, 2018, 10:07:32 AM »
What does the acronym TARB mean?
Try and report back
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Offline DTM

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #37 on: March 06, 2018, 10:16:49 AM »
Thanks

Offline zow

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #38 on: March 11, 2018, 07:14:31 AM »

Offline Geshmak25

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Re: Easy Credit Card spend for those of us with tuition - Giftofcollege.com
« Reply #39 on: March 11, 2018, 09:03:40 AM »
Booyah
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