College Planning & Financial Aid
What Is The Tax Consequences Of Taking Money Out Of My IRA And Paying For My Daughters College Education ?
Withdrawals from a regular IRA that are used for higher educational expenses at a post secondary school are not subject to the 10% penalty on early withdrawals that is reported on IRS Form 5329. Qualified expenses include tuition, books, fees, supplies and room and board if student is at least a half-time student.
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