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1502233
I know I can use my Roth IRA to pay for my graduate program's tuition. My question is: if I first use my credit card/checking account to pay for tuition in 2020 fall, what is the deadline for me to transfer the same amount of money out of Roth IRA, and what is the deadline to file this withdrawal for tuition?
Thanks!
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There isn't a deadline for the withdrawal from a Roth IRA to be allowed for qualified higher education expenses without a penalty. You should withdraw the funds in the same year as the expense is incurred.
Thank you. If I understand it correctly, after I pay tuition with credit card/checking account in Aug 2020, I should withdrawal my Roth IRA by 12/31/2020?
And the deadline to file this withdrawal is 04/15/2021?
Thanks.
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