Is there anyway to save on taxes if we took $110k out of an IRA if $95k of it was used to pay off educational loans? Our tax bill is going to be about $30k!

keith-mccollum58 · ‎January 28, 2020

JohnB5677 · ‎January 29, 2020

Unfortunately, In addition to the regular tax, there will be an early-distribution penalty of 10% if you used an IRA to pay student loans .

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Retirement tax questions