IRA withdrawals for grandson medical school
I have a client with a substantial IRA with TIAA/cref and he wants to w/d money to help pay for his grandson’s medical school. Is there a way he can do this tax advantaged? ❓
I have a client with a substantial IRA with TIAA/cref and he wants to w/d money to help pay for his grandson’s medical school. Is there a way he can do this tax advantaged? ❓
Permalink Submitted by Al Fry on Thu, 2008-01-10 20:57
They may be able to qualify for taxable, penalty-free distributions. See IRS Pub. 970 pp. 53-54 for more info. http://www.irs.gov/pub/irs-pdf/p970.pdf