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Level 2
June 1, 2019
Solved

Can early distribution from an IRA be deferred.

  • June 1, 2019
  • 1 reply
  • 28 views

money was used for payment of an educational expense

Best answer by AlanT222

Withdrawals from IRAs for qualified higher education expenses for you, your spouse, child, or grandchild are exempt from the early withdrawal penalty. The distribution can’t exceed the qualified higher education expenses incurred during the tax year. Qualified higher education expenses include tuition at a postsecondary school, room, and board (if enrolled at least half-time), fees, books, supplies, and equipment required for enrollment or attendance.

1 reply

AlanT222Answer
Alumni - Intuit
June 1, 2019

Withdrawals from IRAs for qualified higher education expenses for you, your spouse, child, or grandchild are exempt from the early withdrawal penalty. The distribution can’t exceed the qualified higher education expenses incurred during the tax year. Qualified higher education expenses include tuition at a postsecondary school, room, and board (if enrolled at least half-time), fees, books, supplies, and equipment required for enrollment or attendance.

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