Permalink Submitted by mk foss on Tue, 2008-12-30 01:55
No. There is no lifetime limit. If you qualify for another exception to the 10% penalty the same year, you’re supposed to use the other provision first. Also, you can’t double dip and use the same dollars to avoid the penalty that you’re using to claim an education credit.
Be sure that the withdrawal and the education take place in the same year and that the expenses qualify.
Permalink Submitted by mk foss on Tue, 2008-12-30 01:55
No. There is no lifetime limit. If you qualify for another exception to the 10% penalty the same year, you’re supposed to use the other provision first. Also, you can’t double dip and use the same dollars to avoid the penalty that you’re using to claim an education credit.
Be sure that the withdrawal and the education take place in the same year and that the expenses qualify.
Good luck!