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Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 3282
Experience:  18+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
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Can I claim the exemption from early withdrawal penalty from

Customer Question

Can I claim the exemption from early withdrawal penalty from my 401k for tuition for a non-custodial child?
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: I'm divorced and my ex-wife claims my daughter on her taxes as a custodial child. Can I use the exemption to pay her college tuition?
JA: Is there anything else important you think the Accountant should know?
Customer: I pay all of her tuition
Submitted: 7 months ago.
Category: Tax
Expert:  Barbara replied 7 months ago.

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Unfortunately, there is no early withdrawal penalty exception for education expenses paid from a 401K. That exception applies to IRAs.

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-tax-on-early-distributions

Please let me know if I can assist you further.

Thank you and best regards,

Barb

Expert:  Barbara replied 7 months ago.

Just following up with you to see if you have any other questions. If so, please let me know so I can further assist you.

Best regards,

Barb