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New Member
posted May 31, 2019 9:12:47 PM

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?

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1 Best answer
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
New Member
May 31, 2019 9:12:48 PM

How is this entered into TurboTax?

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

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.