Just wanted to add another perspective as someone who went through this exact scenario last year. We contributed $32,000 from our joint checking account to our daughter's 529, and I was initially panicking about Form 709 requirements. After consulting with our tax preparer, she confirmed what others have said here - the joint account contribution is automatically treated as $16,000 from each spouse, so no Form 709 needed since both amounts were under the $18,000 exclusion. One thing that might be helpful for the original poster: if you're still unsure, you can always call your 529 plan administrator. Many of them have tax specialists who deal with these questions regularly and can walk you through the gift tax implications. Our plan (Vanguard) was actually really helpful in explaining how the contribution would be treated for tax purposes. The peace of mind was worth the 20-minute phone call, and it saved us from unnecessarily filing paperwork or worrying about it during tax season!

Great question about the documentation! Vanguard didn't provide written confirmation over the phone, but they did refer me to specific sections in their 529 plan documents and IRS publications that I could review myself. The representative walked me through Publication 559 (Survivors, Executors, and Administrators) and Publication 950 (Introduction to Estate and Gift Taxes) to show me the relevant sections about joint account gifts. What gave me confidence was that their explanation aligned perfectly with what I found in the IRS instructions and what my tax preparer later confirmed. The Vanguard rep also mentioned that this is one of their most common questions, so they're very familiar with the rules. If you want something in writing, you could always follow up the phone call by requesting they email you the specific IRS publication references they mentioned. That way you have a paper trail of sorts, even if it's not their formal written opinion. Most 529 administrators are pretty good about providing those kinds of resources since they deal with these questions so frequently.

Just want to add a helpful tip for anyone going the Solo 401k route - I set one up last year through Fidelity and it was surprisingly straightforward. The whole process took about 20 minutes online, and they walked me through exactly how to calculate my contribution limits based on my 1099 income. One thing I wish someone had told me earlier: you can actually open a Solo 401k late in the year (even December) and still make contributions for that tax year, as long as you make the contributions by the tax filing deadline (including extensions). This gave me flexibility to see how much profit my business made before deciding on contribution amounts. The combination of maxing out a Solo 401k for myself AND doing a spousal IRA for my non-working husband has been a game-changer for our retirement savings. We went from saving maybe $12,000/year to over $30,000/year in tax-advantaged accounts.

As someone who went through this exact same situation a few years ago, I can confirm what others have said - you definitely cannot contribute to your spouse's old 401k. That was my first instinct too, but it's simply not allowed once they're no longer employed there. What worked really well for us was the combination approach: I set up a SEP IRA for my self-employment income (super easy to do) and opened a spousal IRA for my non-working partner. The SEP IRA gave me much higher contribution limits than I expected - I was able to put away about 20% of my net self-employment income, which was way more than the $7,000 IRA limit. One thing I learned the hard way: make sure you're calculating your net self-employment income correctly for the SEP IRA contribution. You have to subtract the self-employment tax deduction first, which I initially missed. The IRS has worksheets that walk through this calculation, but it's definitely worth double-checking with a tax professional or using one of the tools others mentioned here. The spousal IRA was incredibly straightforward - just opened a regular IRA in my spouse's name and contributed to it from our joint finances. Come tax time, filing jointly made it all work seamlessly.

This has been such an informative thread! As someone who just opened my second Roth IRA account at a different brokerage, I was completely unaware of how easy it would be to accidentally over-contribute. The point about Form 5498 not being available until May is particularly eye-opening - I always file my taxes in February, so I would have never caught an over-contribution through those forms. I'm definitely going to set up that contribution limit tracking that was mentioned. It's reassuring to know that the major brokerages have built-in features to help prevent this issue. I think I'll also start using a simple tracking spreadsheet as a backup, just to be extra safe. One question I have: if someone realizes they over-contributed but it's a relatively small amount (like $50-100), is it still worth going through the hassle of the excess contribution withdrawal? Or would it sometimes make more sense to just pay the 6% penalty, especially if the withdrawal process is complicated?

This thread has been incredibly helpful! I work in tax preparation and see this issue come up frequently during tax season. One thing I'd add is that many people don't realize the IRS actually has a pretty good online tool called the "IRA Contribution Limits Calculator" that can help you determine your exact contribution limit based on your income and filing status. Also, for those dealing with multiple accounts, I recommend keeping a simple annual contribution log that you update every time you make a contribution. Include the date, amount, and which account it went to. This takes literally 30 seconds each time but can save you from major headaches later. Another common mistake I see: people who get married during the tax year sometimes forget that their contribution limits might change if they file jointly vs. separately. The income phase-out ranges are different for married filing jointly ($230,000-$240,000 for 2025), so newlyweds should double-check their eligibility mid-year if their combined income is high. The bottom line is that prevention through good record-keeping is always easier than correction after the fact!

This is such a helpful thread! I'm in a similar situation with my marketing consultancy. I've been successfully using the Augusta Rule for our quarterly board meetings at my house, but I'm also considering renting my detached workshop to the business for product photography and storage. Based on what everyone's shared, it sounds like the key is really in the documentation and keeping everything clearly separated. I'm definitely going to get separate lease agreements drafted and maybe get that real estate agent valuation that Chloe mentioned. One question - for those who are doing both arrangements, do you find it helpful to use different payment schedules? Like monthly payments for the continuous garage rental versus per-event payments for the Augusta Rule house rentals? I'm wondering if that helps demonstrate the different nature of each arrangement to the IRS. Also really appreciate the audit experience shared by Mila - gives me confidence that this can be done legitimately if you keep proper records!

Great question about payment schedules! Yes, I absolutely recommend different payment structures for each arrangement - it's one of the clearest ways to demonstrate that these are truly separate rental activities. For my Augusta Rule house rentals, I use per-event invoicing (usually $800-1,200 per day depending on the event type and number of attendees). Each invoice references the specific business purpose like "Q3 Board Meeting" or "Annual Company Retreat." Payment is typically made within 30 days of the event. For my garage workshop rental, I have a standard monthly lease payment of $450 that gets paid on the 1st of each month via automatic transfer. This consistent monthly payment pattern clearly shows it's an ongoing business facility rental rather than occasional event space usage. The different payment schedules actually strengthen your documentation because they reflect the different nature of each rental: - Augusta Rule = occasional, event-based, higher daily rate - Workshop rental = continuous, facility-based, lower monthly rate I also keep the invoices and lease agreements in completely separate files, and my business categorizes the expenses differently in QuickBooks ("Event Space Rental" vs "Facility Lease"). This payment structure differentiation was something my accountant specifically recommended, and it's worked well through two years of clean tax filings. Definitely get those separate valuations - having that professional documentation gives you confidence that your rates are defensible!

2 Does anyone know if you need to submit proof of expenses to your HSA administrator when you reimburse yourself? My HSA is through HealthEquity and their website just lets me request distributions without uploading any documentation.

Great question! You're absolutely on the right track with your HSA strategy. Since you established your HSA on October 15th, any qualified medical expenses from that date forward are eligible for reimbursement - which means your November procedure definitely qualifies. You can contribute up to the 2025 maximum ($4,300 for individual coverage, or $8,550 for family coverage if you're 55+) regardless of when during the year you opened the account, thanks to the "last-month rule." Just make sure you maintain your high-deductible health plan through December 2026 to avoid any penalties. Your reimbursement strategy is spot-on too. You can reimburse yourself the current $1,300 now and the remaining $3,000 later as you build up the account. There's no deadline for HSA reimbursements as long as the expense occurred after your HSA was established. Just keep detailed records of all receipts and documentation - the IRS doesn't require you to submit these with your taxes, but you'll need them if audited. One pro tip: if you can afford to leave some money in the HSA to grow, consider only reimbursing what you absolutely need now. HSAs can be great long-term investment vehicles since the money grows tax-free and withdrawals for qualified expenses are always tax-free, even decades later!