IRA Withdrawals before age 591/2
Daughter, 18 years old, will begin college in the Fall. Am I permitted to withdraw funds from my IRA, (I’m am currently 55 1/2), to pay for her education expenses (such as tuition, fees, books, equipment, and basic room and board) and avoid the 10% penalty for early withdrawl? Thank You in Advance!
Permalink Submitted by Al Fry on Tue, 2008-05-27 19:18
Yes. It would be a good idea to review all the rules and limitations in IRS Publication 970, Section 9. It can be found on the IRS website, IRS.gov, under “Forms and Publications”.