topic 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 Retirement tax questions

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?

Lisamarieb — Wed, 29 Jan 2020 15:29:07 GMT

Re: We have a 1099-R from an early IRA withdrawal. We used the money for my wife's college cost. ...

TomK100 — Wed, 29 Jan 2020 16:00:35 GMT

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.

Re: 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?

dmertz — Wed, 29 Jan 2020 16:49:04 GMT

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.

Re: We have a 1099-R from an early IRA withdrawal. We used the money for my wife's college cost. ...

Lisamarieb — Wed, 29 Jan 2020 23:30:20 GMT

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