Pay for College from Rollover IRA

From: David Hodges <dhodges@recol.com>
Subject: Pay for College from Rollover IRA
Date: Mon, 13 Mar 2000 11:04:37 -0500

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My daughter is going to take some summer courses, for credit, at a 
different University from the one where she is enrolled. Since the expense 
of this (about $7000) is not in this year's budget, I was thinking of using 
my Rollover IRA as a source for the money. This IRA is doing very well and 
I could do this and still come out ahead for the year.

Questions: I understand that paying for educational expenses is an allowed 
use of an IRA (ie. no penalities). Is this true? If so, what are the "gotchas"?

Thanks,
David


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