Chapter 5
Withdrawals From Traditional or Roth IRAs

Generally, if you make withdrawals from your traditional or Roth IRA before you reach age 59 1/2, you must pay a 10% additional tax on the early withdrawal.

However, you can make withdrawals from your traditional or Roth IRA for qualified higher education expenses without having to pay the 10% additional tax. You will owe income tax on at least part of the amount withdrawn, but you will not have to pay the 10% additional tax on early withdrawals.

A traditional IRA is an IRA that is not a Roth IRA, SIMPLE IRA, or education IRA.

The part not subject to the tax is generally the amount that is not more than the qualified higher education expenses for the year.

Who Can Make Early Withdrawals Free of the 10% Tax?

How Do You Figure the Amount Not Subject to the 10% Tax?

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