Roth withdrawn for Education

[PIGLEE]

Just need a second opinion, but after looking in The Tax Book. This is how I read it. If a person takes a distribution from a Roth IRA, and it has been held for more than 5 years, and is used for education expenses for her child in college, that the Roth is tax free, and not subject to the penalty.

This looks to simple, and I am brain dead and trying to move. I have never had anyone do this before on a Roth.

Thanks

[appelman]

Educational expenses are not an exception.

Person must also meet one of the conditions in paragraph 2 under "What Are Qualified Distributions?" on. p. 64 of Pub. 590. Of course, return of original basis is never subject to tax or penalty.

[PIGLEE]

Thank you so much, that helps to confirm what I found.

[taxxcpa]

Roth withdrawal

If you meet all requirements, you can draw it out regardless of the purpose. I drew all of mine out to pay off a mortgage. It had been in long enough to qualify as penalty-free.