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(4) 0.5 Points - Gideon has been with 3P for a year and a half. He has deferred some of his compensation and has received

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(4) 0.5 Points - Gideon has been with 3P for a year and a half. He has deferred some of his compensation and has received a company match in the SIMPLE. Gideon's daughter is about to attend college, however, he has not saved any money for her education. What are the tax implications if Gideon takes a distribution from his SIMPLE IRA with 3P to pay for her college education expenses

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