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We have a 1099-R from an early IRA withdrawal. We used the money for my wife's college cost. What else is needed when submitting this as the reason for the withdrawal?

 
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3 Replies
TomK100
Expert Alumni

We have a 1099-R from an early IRA withdrawal. We used the money for my wife's college cost. What else is needed when submitting this as the reason for the withdrawal?

In TurboTax, after you have entered the 1099-R for the IRA distribution you will eventually see a screen, Did you use your IRA to pay for any of these expenses? 

 

Enter the amount of the distribution you used for Higher education in the appropriate box.

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dmertz
Level 15

We have a 1099-R from an early IRA withdrawal. We used the money for my wife's college cost. What else is needed when submitting this as the reason for the withdrawal?

Nothing is needed beyond the exception 08 shown on line 2 of your Form 5329 that will be present as a result of you entering the amount in the box TurboTax provides for entering the amount spent on higher-education expenses.  In the unlikely event that the IRS questions you claiming this exception, the IRS will ask for supporting documentation for the expenses.

We have a 1099-R from an early IRA withdrawal. We used the money for my wife's college cost. What else is needed when submitting this as the reason for the withdrawal?

Will I need to supply documents from the school to verify this expense?

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