Brye11626

Brye11626 t1_je263ef wrote

Im confused. You saved money to buy a house and now you want us to tell you if it's okay to withdraw the saved money on a house?

Not to be rude... but wasnt that the entire point of the account in the first place? Savings have no value other than to buy things. If your goal with this money was to buy a house, then sure go try and buy a house.

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Brye11626 t1_jaafo1r wrote

That would be super bizarre way of handling things. You think the landlord is trying to collect a retroactive payment for February 14th-28th on March 1st?

That would be a first for me. I'd say it's far more likely that the 600 was credited towards February and then they are "cutting a break" in March to even it out. That's how all my rental agreements have worked whenever they are prorated or a subsidy was given i.e. one month or half month free for move-in.

Either way OP should ask the owner.

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Brye11626 t1_j6lg797 wrote

I'm not sure anyone knows, and I've never known someone to get audited for intracity public transport. It may exist, but I've never heard of it. The fact that most card providers tell you not to do it at least raises some concern they could cancel your account for incorrect usage (violating terms of service does not require a law to be broken).

Your benefits team will likely provide little or no help (just like your card supplier) since the law is ambiguous. They will repeat the same language the IRS has stated ("parking near your workplace" and "transit expenses").

The problem is exactly what you stated. Back to the original subcategory we are talking about. Commuter expenses. “Use it to pay for commuting expenses (bus/train/carpool)".

Would you consider a trip to the grocery store a "commuting expense"? I certainly wouldn't. Will anyone care? I certainly doubt it.

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Brye11626 t1_j6kys4x wrote

Throughout the Fringe Benefit section of the IRS (Pub 15-B) there are multiple notices that commuter benefits must be used only between your place of residence and your place of work. This is explicitly stated for highway share and parking. Using it for other reasons would be considered a fraudulent use of the card for evading taxes.

In the public transit subsection, it's left ambiguous. Likely because the IRS doesn't want you to use it for personal travel, but also is aware that proving you didn't use your transit card to go to work may provide difficult. Especially with things like weekly or monthly passes.It's a legal gray zone for sure, but unlikely to ever see enforcement.

Many providers of transit cards discourage use of transit benefits for non-work related expenses, likely because they don't want to be complicit if you in fact get audited.

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