Ask Experts Questions for FREE Help !
Ask
    eddieg1960's Avatar
    eddieg1960 Posts: 1, Reputation: 1
    New Member
     
    #1

    Jan 9, 2012, 12:38 PM
    Roth IRA tax questions?
    My son is a senior in High School and taking college courses. Can I use money from my Roth IRA to pay for these classes? If so, how should I proceed?
    I asked the investment company where I have the Roth IRA and they suggested I contact a tax consultant.

    Thanks,

    Eddie
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    Jan 9, 2012, 07:59 PM
    Eddie:

    You should have NO problem using your Roth funds, since paying higher education costs is a valid reason for early withdrawal.


Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Roth IRA tax [ 1 Answers ]

I' am moving some money from 401 k to a ROTH IRA account and the money is before tax money I understand that the tax can be split between to years in 2010 and 2011 when this is done if I move it this year

Cashing out part of IRA or ROTH IRA due to Hardship [ 1 Answers ]

Can you tell me what are the reasons that you can claim hardship on an IRA or ROTH IRA? I have been unemployed for over a year and need to cashing some of my IRA to just pay bills and live. Are there penalties and taxes that need to be paid on this money? Thanks,

Roth And Traditional IRA questions. [ 1 Answers ]

Hello All... What I am looking for is in case I put my money in Roth can I put my money in a traditional IRA too i.e. can I max out both the IRA's? If the answer is yes then can I actually convert my traditional to Roth (after some time)? If the answer is yes then what is the procedure i.e....

Should I/how to convert IRA-BDA to a Roth IRA [ 0 Answers ]

A few years ago I inherited an IRA. It's now referred to as an IRA-BDA. It is all one mutual fund. As it stands now, when I withdraw from it I have the option of taking out 10-15% taxes on the amount withdrawn, or waiting until tax time to pay it. 1.Would it be more beneficial to change my...


View more questions Search