[quote=FlyerInHi]Yes, but you’re getting reimbursed by the parents in cash. So you’re not paying for education.[/quote]
I am certainly not getting reimbursed for the tuition.
They are gifting me back simply because they love me.
And there’s nothing that says they can’t setup their own 529 plan and end up paying for my kids education out of it. The difference is that they have no capital gains right now because they are just starting out…
So they can accumulate their capital gains and use that toward my kids college while my 529k with capital gains can be used right away. And there’s nothing saying they need to gift me back in the exact same year the exact same amount…and there’s no need for a justification for the gift…as long as it’s below the gift tax exclusion threshold…. so there…
Nice try throwing around fake terms for fake things that is already legally defined in our tax codes.
