IRA tax

daager · Mar 24, 2003

North Carolina. if you transfer an employer 4o1k to a ira, can you transfer it to a parents name (he's over 70) and have him give you part of the money back as a gift (for college) to avoid tax penalties?

abezon · Mar 24, 2003

You can withdraw up to $10,000 from an IRA to pay for education expenses without any penalties.

daager · Mar 27, 2003

North Carlolina. Thanks for the info! Is this a one time withdrawal or can $10,000 be taken out yearly?

IRA tax

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abezon

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