Rudy (48) takes a $30,000 distribution from his IRA to pay some of his daughter's $56,000...

 

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Rudy (48) takes a $30,000 distribution from his IRA to pay some of his daughter's $56,000 qualified education expenses at an eligible educational institution. His daughter paid $35,000 of her expenses with a tax-free scholarship. How much of Rudy's IRA distribution is subject to the 10% tax on early distributions? Rudy (48) takes a $30,000 distribution from his IRA to pay some of his daughter's $56,000 qualified education expenses at an eligible educational institution. His daughter paid $35,000 of her expenses with a tax-free scholarship. How much of Rudy's IRA distribution is subject to the 10% tax on early distributions?

Answer rating: 100% (QA)

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