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| Higher Education Loan Expenses |
Question:
Client is
no longer in College, but still
has student loan
to pay. Can this expense qualify
as 'Higher
Education
expense' which is not subject to
the 10% penalty on early
withdrawals of IRA's?
Answer:
No. Student
loan repayments are not a "qualified"
education expense for purposes of
avoiding the premature distribution
penalty. The list of expenses is in
Publication 590.
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