Hi,
I just discovered that one can take an early withdrawal from an IRA without the 10% penalty if you use it for qualified expenses for education.
1. Can the withdrawal be use for other members of the family? As in: Can a father pay for his children's costs, and can a spouse pay for the other spouse's education?
2. Can the deduction apply to a prior year's education expenses? I just learned about it, and I am not sure that the brokerage can make the disbursement by the end of this calendar year. Is the cut off for the disbursement for 2022 taxes December 31, 2022, or TaxDay in April 2023? (We can contribute to an IRA for the prior year up to tax day in the new year; would the same apply with disbursements to cover expenses in the prior year - that we could use a disbursement made up to April for the prior year's expenses)?
