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Reply to "“Fully Funded College”"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]All of you who have hundreds of thousands of dollars saved for each of 3 kids, what is you HHI?! How much are you putting in 529s each month? I am truly amazed. [/quote] We had an exit (stock options) and super funded the accounts. We couldn't have gotten there otherwise based on our typical HHI.[/quote] How much did you guys put into their accounts? Don’t you have to file extra forms if you put over the gift tax amount for the year ($14-15,000 per person per year)?[/quote] So it’s gift tax- you can give whatever you want w-out transfer taxes up to the estate tax limit. Tax prep will handle the forms. Not sure honestly how much- I think we put in 125k or so per kid and grew in stock rally.[/quote] You file forms, and it does lower your exemption from estate taxes when you die. This is only a problem if you think you're going to leave a more than $11 million estate (under current rules). [/quote]
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