<prompt> Human: A parent 60yrs old is going to pull 100k from a retirement fund to gift directly to me for college expenses both tuition and housing etc.. Will there be taxes for the withdrawal as income for her and me, as well as stateGA taxes?  <response>: gift directly to meNo. Instead, have them pay your tuition directly to bypass the gift tax limitthreshold.The withdrawal from the retirement account will still be subject to income taxes applicable for traditional IRA, traditional 401k, etc.. 