IRA Withdrawal for Payment of Student Loans?

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • zeros
    Senior Member
    • Dec 2006
    • 921
    #1

    IRA Withdrawal for Payment of Student Loans?

    Client withdrew from his IRA for the purpose of paying his student loans. Under 59-1/2. Would this be any one of the exceptions to the 10% penalty?
    Tags: None
    • taxmom34
      Senior Member
      • Nov 2008
      • 732
      #2
      to qualify expenses must be paid in same year as IRA distribution. I don't think that applies to loans, but I could be wrong. I found this answer in TTB page 13-3

        Comment

        • Lion
          Senior Member
          • Jun 2005
          • 4699
          #3
          No exception to 10% penalty for repaying loans.

            Comment

            Previous template Next

            Disclaimer

            Collapse

            This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

            Working...