I used some of my early IRA withdrawal to pay for my son's college tuition. Does this count as a higher education expense to help lower my early withdrawal penalty?
03855
1 Best answer
Phillip1
New Member
May 31, 2019 9:12:52 PM
Yes. The amount that you paid for your son's qualified education expenses can be used to help reduce the early withdrawal penalty from your IRA.
3 Replies
imclvrxqwizit
New Member
May 31, 2019 9:12:48 PM
How is this entered into TurboTax?
dboll21423
New Member
May 31, 2019 9:12:50 PM
is this only waiving the early withdrawal penalty? what about paying tuition for a qualify dependent with the money you took out of your ira
Phillip1
New Member
May 31, 2019 9:12:52 PM
Yes. The amount that you paid for your son's qualified education expenses can be used to help reduce the early withdrawal penalty from your IRA.