I used some of my 401k early retirement money for travel expense back and forth to college for my daughter. Can I use this for a reason I withdrew this money?

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1 Best answer

Level 15

Jun 4, 2019 5:19:31 PM

No, travel expenses for education are not qualified education expenses and are not an exception to the early withdrawal penalty for a 401(k) withdrawal.

See this IRS Tax Topic for exceptions to the early withdrawal penalty from accounts other than an IRA - https://www.irs.gov/taxtopics/tc558

Level 15

Jun 4, 2019 5:19:31 PM

No, travel expenses for education are not qualified education expenses and are not an exception to the early withdrawal penalty for a 401(k) withdrawal.

See this IRS Tax Topic for exceptions to the early withdrawal penalty from accounts other than an IRA - https://www.irs.gov/taxtopics/tc558

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I used some of my 401k early retirement money for travel expense back and forth to college for my daughter. Can I use this for a reason I withdrew this money?