Weak Longs
Categories: Finance,
Refers to the group of investors that holds a long position and is quick to exit that position at the first sign of weakness. This group of investors is generally looking to capture the potential upside in a given security, but is not willing to take much loss. These investors will quickly close their positions when a trade does not work in their favor.
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Definition / Meaning of
Lifetime Learning Credit
Categories: Tax,
You may qualify to claim a lifetime learning tax credit of up to $2,000 each year for qualified higher educational expenses for yourself, your spouse, or a dependent if your family's modified adjusted gross income falls within the annual limits that Congress sets. Those amounts tend to increase slightly each year.The course work must be one or more courses but doesn't have to be part of a degree- or certificate-granting program, though the tax credit can be used for undergraduate, postgraduate, or professional studies. Even if you are paying for more than one person's education, you can take only one lifetime learning credit per year.If you claim the credit while you're taking withdrawals from tax-free college savings plans such as a section 529 plan or an education savings account (ESA), you'll have to plan carefully. Your withdrawals will lose their qualified status and be subject to tax and penalty if you use them to pay for the same expenses for which you claim the tax credit. You can't take the credit, though, if you claim a tuition and fees deduction in calculating your adjusted gross income or deduct the amount as a business expense.
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