The bill from the college includes tuition, meal plan, room/board fees and also has payments from her loans & scholarships and does not show where each payment source was applied?
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The amount of a 2017 IRA distribution that is exempt from the 10% early-distribution penalty is the amount that you paid for qualified higher-education expenses during 2017. Simply total up all of the qualified higher education expenses paid (and not otherwise reimbursed) and enter that number (not to exceed the amount of the IRA distribution) in the penalty exception box for higher-education expenses. Include those amounts paid with loans since loans must be paid back. (The loan repayments themselves are not qualified higher-education expenses.)
The amount of a 2017 IRA distribution that is exempt from the 10% early-distribution penalty is the amount that you paid for qualified higher-education expenses during 2017. Simply total up all of the qualified higher education expenses paid (and not otherwise reimbursed) and enter that number (not to exceed the amount of the IRA distribution) in the penalty exception box for higher-education expenses. Include those amounts paid with loans since loans must be paid back. (The loan repayments themselves are not qualified higher-education expenses.)
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