Question re: waiting time for funds from bonds. [View all]
Not sure this is the correct forum, but figured it would be the closest I could find. Son got late acceptance into a 2-wk study trip (starting on 1/7, $7k covers everything except airfare). Hubby and I had saved bonds for edu purposes for both kids to be used for study abroad trips. Daughter did both of hers mid-year so no question with hers. Now we have to cash in some for our son and pay for his trip.
The question hubby and I are going back/forth over is do we cash them out before Jan 1 or after? I’m worried doing it so late since I thought there was a waiting period for amounts over $1k before you can use the funds for payment. Hubby is more concerned about tax implications. Value-wise there was minuscule difference.
Looking for someone who may have a clue or who has done something similar, because I certainly have no idea.
= new reply since forum marked as read