Questions and Answers
I plan to use my traditional IRA to pay for my higher education costs. How often can I take distributions from it and are there limits to the distribution amounts? What are qualified higher education expenses? I plan to live off campus. What part of those expenses are qualified expenses?
There is no limit on the number of times an individual may withdraw from his/her traditional IRA to pay for qualified higher education expenses. To avoid the 10 percent penalty tax for early withdrawal, the distribution amount must not exceed the qualified education expenses. To learn more about qualified higher education expenses, see IRS Publications 590 and 970
(Posted: 05/30/2007)
