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Subject:  2011 1098-T Question (college tuition) Date:  2/19/2012  2:42 PM
Author:  eurotrash01 Number:  115128 of 129998

Question regarding this past year's 1098-T & related college expenses.

My income is irregular - only comes in the form of dividends, interest, s/t cap gains & l/t cap gains - job-free living. For understandable market reasons, 2008-2010 produced plenty of booked losses & carry-forwards (used up now) which kept my income for those years low to negative. 2010 was modestly positive and the deductibility of education expenses (year 1 college for my son) and associated credits came in very handy. This year, I ended up booking many more gains (low 6-fig in each of s/t cap gains & l/t cap gains) and my income is at a level where the 2011 deductibility is definitely gone and AMT is kicking in.

Is there anything I can do in the way I file now to effectively "save" the 2011 1098-T from this year for use down the road? I don't plan to book as many gains this year and would likely qualify for some deductibility of the expenses unless I get a really high-quality problem of a raging bull market and a happy sell-trigger-finger.


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