in Education
465035
We used money from an ira early withdrawal to pay for my wife's education expense (she's back in college working on another degree), but TurboTax doesn't appear to be applying the education cost exemption against the 10% early withdrawal penalty. I don't see any education cost deducted on line 2 of form 5329, only a calculation of a small lifetime learning credit on Form 8863 that is unrelated to the 10% early withdrawal penalty.
You'll need to sign in or create an account to connect with an expert.
You can follow these steps to apply education exemption on your early withdrawal penalty.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Tamayabsmothers
New Member
in Education
menomineefan
Level 2
eohiri
New Member
sirburriss001
New Member
AkramIbrahim
New Member