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Paying for tuition using an IRA

I just learned that it's possible to do an early withdrawal from an IRA to help pay for your (or child's/grandchild's) tuition WITHOUT having to pay the 10% early withdrawal penalty.

Has anyone here done this (and how complicated is it)? Also, can anyone understand this example at the IRS web page? If so, please explain!

Link: Confusing IRS Example 1

Posted: 02/27/2017 at 2:28PM

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Current Thread:

Paying for tuition using an IRA -- Boiler Hokie 02/27/2017 2:28PM

You don't pay the 10% early withdrawal penalty but every dollar -- fordham 02/27/2017 3:44PM

Kinda, but in the IRS example they show some is tax-free -- Boiler Hokie 02/28/2017 09:26AM

Never,ever take money out -- VTUD 02/27/2017 3:39PM

But what if helping your offspring with some tuition? -- Boiler Hokie 02/28/2017 09:30AM

For retirement you can to a reverse mortgage, sort of a loan ** -- fordham 02/27/2017 4:05PM

Some people end up -- VTUD 02/27/2017 7:54PM

Pay to talk to a tax advisor first it would be worth it ** -- HokieJamie 02/27/2017 2:37PM

Don't do it ** -- hokeyhokie 02/27/2017 2:30PM