IRA 10% penalty exception for education

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  • Jesse
    Senior Member
    • Aug 2005
    • 2064

    #1

    IRA 10% penalty exception for education

    Just looking for a nod of reassurance.

    Qualified higher education expenses can be used to reduce the 10% penalty even if the student was not an at least half-time enrolled student, however, the student must be at least a half-time student for any room and board to be considered as qualified higher education expenses. Correct?
    http://www.viagrabelgiquefr.com/
  • solomon
    Senior Member
    • Aug 2006
    • 1012

    #2
    You are correct. The wording in §529(e) is "at least half time" in order for room and board to be a qualified education expense. §72(t) references §529 for the definition.

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    • Jesse
      Senior Member
      • Aug 2005
      • 2064

      #3
      Thank you!!
      http://www.viagrabelgiquefr.com/

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