- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
Thank you very much for your advice.
Let's say I insist using my Roth IRA, and I don't mind losing my Roth IRA amount:
Case A:
Step 1: I use Roth IRA to pay for tuition in August, 2020. No withdrawal penalty for education.
Step 2: Company gives me tuition reimbursement in December, 2020, so that $5,250 Educational Assistance applies to Tax Year 2020's IRS annual limit.
Question: By law, should I just feel no guilty of putting the $5,250 reimbursement into my checking account, or put it back to Roth IRA by certain IRS requirement?
Case B:
Step 1: I use Roth IRA to pay for tuition in August, 2020. No withdrawal penalty for education.
Step 2: Company gives me tuition reimbursement in January, 2021, so that $5,250 Educational Assistance applies to Tax Year 2021's IRS annual limit.
Question: By law, should I just feel no guilty of putting the $5,250 reimbursement into my checking account, or put it back to Roth IRA by certain IRS requirement?
Thanks!