Hawk26
Level 3
02-28-2020
07:20 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Client under age 59-1/2 withdrew $6,000 from Roth IRA for daughter's college education. Since the funds were used exclusively for secondary education they're supposed to be exempt from the 10% penalty.
Is there a section on the 1099-R Worksheet that indicates the withdrawal was used for college costs? How do I "eliminate" the $600 early withdrawal penalty?
Thanks.
Best Answer Click here
Labels