Announcement

Collapse
No announcement yet.

Early IRA penalty exception

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    Early IRA penalty exception

    Would appreciation your confirmation on this. TTB chapter 13 Retirement, etc., page 13-3, exception #8, higher education expenses. No exception for 401(k) and qualified plans, yes for IRA's, SEP, Simple and SARSEP plans. Thanks.
    Tags: None
    #2
    Yes as stated.

    also stated “Caution: To qualify, expenses must be paid in same year as IRA distribution. (Duronio,T.C. Memo. 2007-90)”

    also shown on IRS website

    https://www.irs.gov/retirement-plans...-distributions
    Last edited by TAXNJ; 10-17-2020, 12:04 PM.
    Always cite your source for support to defend your opinion

    Comment

      #3
      Thanks, TAXNJ, even better site.

      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...
      X