turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Early withdrawal 11.9k from roth ira, 10k from trad ira. 10k went to house, 3k to college. Do I enter 3k for "Did you use your IRA for any of these expenses, Higher edu"?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
MargaretL
Expert Alumni

Early withdrawal 11.9k from roth ira, 10k from trad ira. 10k went to house, 3k to college. Do I enter 3k for "Did you use your IRA for any of these expenses, Higher edu"?

Yes, please enter 3K as amount used for higher education; it will reduce potential additional 10% penalty on the early withdrawal.

View solution in original post

1 Reply
MargaretL
Expert Alumni

Early withdrawal 11.9k from roth ira, 10k from trad ira. 10k went to house, 3k to college. Do I enter 3k for "Did you use your IRA for any of these expenses, Higher edu"?

Yes, please enter 3K as amount used for higher education; it will reduce potential additional 10% penalty on the early withdrawal.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies