Can i use Rollover IRA to pay for son's college without being penalized 10%?
I know the withdrawal is considered income and will be taxed that way. Question is about the 10% penalty.
011956
1 Replies
MargaretL
Expert Alumni
May 31, 2019 5:33:58 PM
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.