Sentences with phrase «nonqualified expenses»

If there are distributions for nonqualified expenses or to schools that are not qualified educational institutions, the distribution may be subject to a 10 % penalty.

Distributions for nonqualified expenses or to schools that are not qualified educational institutions, may be subject to a 10 % early distribution penalty on any earnings.

In addition, I would be cautious about attempting to do this unless you actually did pay for the nonqualified expenses yourself, so you can treat the money as fungible.

Not exact matches

Nonqualified distributions are distributions that are not being used to cover educational expenses.

Any historical numbers, awards and recognitions presented are based on the performance of a (GIPS ®) composite, Swan's DRS Select Composite, which includes nonqualified discretionary accounts invested in since inception, July 1997, and are net of fees and expenses.

Also keep in mind that funds withdrawn for nonqualified medical expenses are subject to a 10 % penalty (for those younger than 65) and income taxes.