dmertz
Level 15

Retirement tax questions

"are you saying that if this retirement account is an employee sponsored 401-K it is not allowed to be used for college tuition?"

 

That is correct.  This particular penalty exception only applies to distributions from IRAs.  A 401(k) is not an IRA.

 

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-exceptions-to-tax-o...