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New Member
posted Jun 6, 2019 5:37:39 AM

If i withdrew from a retirement plan to pay tuition would that lower my tax bill

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1 Best answer
Alumni
Jun 6, 2019 5:37:41 AM

The only possibility is that there is an exception to the penalty for early withdrawal from an IRA when used to pay qualified education expenses. The distribution is still fully taxable, nothing changes that. The exception applies only to an IRA and not to any other type of retirement plan.

1 Replies
Alumni
Jun 6, 2019 5:37:41 AM

The only possibility is that there is an exception to the penalty for early withdrawal from an IRA when used to pay qualified education expenses. The distribution is still fully taxable, nothing changes that. The exception applies only to an IRA and not to any other type of retirement plan.