Ask Experts Questions for FREE Help !
Ask
    roniegh's Avatar
    roniegh Posts: 9, Reputation: 1
    New Member
    		  
    #1

    Sep 5, 2007, 07:35 AM
    College Savings Account for non-resident (adult) spouse
    Hi,

    I came to the US with an F1 Visa for TOEFL and GMAT preparation courses, because I want to start my MBA in the fall 2008.
    I also came to visit my fiancée. Now she is my wife, we just got married last month.
    As she is on a F1 Visa, now on her OPT (Optional Practical Training), we decided to change my status for a F2 Visa as her dependent.
    Now I am studying for the exams and preparing all the applications documentation for my MBA.

    Considering this situation: both non-residents, married, she on a F1 Visa OPT working full time and I on a F2 Visa.

    1) Could I open a College Savings Account to use it for myself to pay my MBA tuition fees?
    2) Could she contribute to my College Savings Account and deducting it from her taxable income?
    3) Still about question number 2: Even if we are married but non-residents?


    We really appreciate your time and consideration. Thanks!

    Best regards,

    Ronie
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Sep 5, 2007, 06:49 PM
    This one will take some research, and I do not have my reference material with me.

    Please email me so I can answer you on Saturday when I get home.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Flexible Savings Account (FSA) for non-resident spouse [ 3 Answers ]

Hi, My wife is now on a OPT (Optional Practical Training) F1 Visa, and she want to open her Flexible Savings Account (FSA) to use for medical expenses (deductables, medicines,. ). I am here in the US because of her and also because I am doing all the applications to start my MBA next...

Wiring to US savings account [ 1 Answers ]

Hi guys, Hopefully very easy question :) I have a savings account in the US, but live and earn in the UK. I would like to transfer my earnings (after UK tax) to my US account simply by wiring the money from my UK account, and take advantage of the dollar-pound exchange rate (hoping that the...

What type of savings account should I open? [ 3 Answers ]

I am currently saving about $1,000.00 per month. Right now it is just sitting in my checking account. I am hoping to purchase a town-house early next year with what I am saving. What type of account should I be saving into?

FICA taxes for Non-resident spouse treated as resident [ 7 Answers ]

I'm a resident alien for tax purposes. My wife was on F-1 till June 2006, then OPT till Nov 2006, and H-1 afterwards. We elected to treat her as a resident for tax purposes when filing returns for 2004 and 2005. My question is : Her employer did not withhold FICA taxes until she received her...

Savings Account [ 2 Answers ]

Hello there! I'm 23 years old. Both my girlfriend and I have good credit and decent income for our age. We want to purchase a home in the near future. What would be the best way to save for a down payment? Are there savings accounts that offer interest? What would be the best way to go?

View more questions Search