Roth IRA distribution for college
If someone underage 59.5, takes a distribution from earning in their Roth IRA for a college expense for their child, is it taxable?
The account is over 5 years old.
Thank you – Frank
If someone underage 59.5, takes a distribution from earning in their Roth IRA for a college expense for their child, is it taxable?
The account is over 5 years old.
Thank you – Frank
Permalink Submitted by David Mertz on Mon, 2022-04-04 12:28
Yes, it’s taxable, but the education-expense exception can be used to reduce or eliminate the 10% early-distribution penalty that would otherwise apply.