- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
The exception to the 10% tax penalty on early distributions for qualified higher education expenses only applies to IRA, SEP and Simple IRA plans. It does not apply to withdrawals for 401(k) plans.
Please see this IRS document for more information.
In any case, you have to apply the gross distribution to the education expenses. The tax withheld is for you to take care of.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎July 13, 2020
11:20 AM