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April 16, 2010


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Matthew Reid Krell

The AMT would run from GCS to JFK - no stops.


He'll put the money in the plan of whatever state he expects to live in when he withdraws the funds, because states don't exempt withdrawals from one another's 529 plans. And states usually only offer one plan, the one they run themselves (via some contractor). (And, somehow, despite my efforts to the contrary, this is consistent with the Dormant Commerce Clause -- see Kentucky v. Davis). So don't draw any inferences about the quality of the plan from where the Obamas stow their money.

Also, they probably aren't affected by the AMT, since they phase out the top. (AMT has a top marginal rate of 28%, so very high income taxpayers -- those with substantial income taxed at the maximum standard rate of 35% -- end up not paying AMT).

--a tax nitpicker

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