Can i use Rollover IRA to pay for son's college without being penalized 10%?

[turbomom0]

I know the withdrawal is considered income and will be taxed that way. Question is about the 10% penalty.

[MargaretL]

Yes, you can. There is an exception for the early withdrawal penalty of the 10% tax for qualified higher education expenses. The expenses must be for you, your spouse or the children of you or your spouse.

Please see details below:

https://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics-Tax-on-Early-Distr...

Page 25:

https://www.irs.gov/pub/irs-pdf/p590b.pdf