I was informed that it may be advisable to take a long term gain on aStock in my portfolio to pay college tuition resulting in (for my taxbracket 10%)a 50% reduction of tax liability. 5% is a great deal!I just have to provide proof to IRS that the proceeds were used to paytuition. I tried to look around www.irs.gov for the requirements, butcan't find anything on the rule.Scottrade said all they would need from us is a note from me and mywife authorizing them to issue a check to the college. For proof,would a copy of the Sale Confirmation and a copy of Scottrade's monthlystatement be sufficent to satisfy IRS?I have saved cash on the side to pay for my son's tuition. Idon't really want to sell the stock, but if I buy it back with theready cash on the side, I would be starting with a new base.It certainly sounds like a smart idea.My son will be attending in the fall. I am trying to plan forthis strategy in advance.Thanks for your help,Kmote
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