Early IRA withdrawl for college

[khatcher446]

How do you designate early IRA distribution for college tuition in desktop software?  There is no Higher Education box available

[ThomasM125]

The withdrawal has to be from an IRA for penalty relief for education expenses. It doesn't apply to 401-K  withdrawals, so you need to indicate the withdrawal was from an IRA by checking that box on the Form 1099-R input if that applies to you.

[khatcher446]

So, are you saying that if this retirement account is an employee sponsored 401-K it is not allowed to be used for college tuition?  Just trying to waive the federal penalty fee.  I understand that we have to pay taxes on it.  

Thank you!

[dmertz]

"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...