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Retirement tax questions
See page 25 here,
https://www.irs.gov/pub/irs-pdf/p590b.pdf
You can be exempted from the 10% penalty for higher education expenses you pay for yourself, your spouse, or your children and grandchildren (but not other kinds of dependents). Eligible expenses include tuition, required fees, and room and board. If the child lives off-campus, your eligible room and board is what the college would have charged for on-campus housing, or the actual cost of rent, food and utilities, whichever is less. You reduce the eligible expenses by the amount of any scholarships, grants, or other tax-free tuition assistance.
You still have to pay the regular income tax on the distribution.
‎July 2, 2021
8:48 AM