Treasurehunt1
Level 1
‎07-06-2020
01:42 PM
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Are retirement funds used to purchase a first home tax deductible? Also, does it matter if it is a total purchase or down payment?
Thank you,
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Level 15
‎07-06-2020
03:03 PM
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The first $10,000 might be able to have the 10% penalty for early withdrawal excluded if if its an IRA...but its all taxable.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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sjrcpa
Level 15
‎07-06-2020
01:47 PM
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No and it doesn't matter.
ex-AllStar
Level 15
‎07-06-2020
03:03 PM
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The first $10,000 might be able to have the 10% penalty for early withdrawal excluded if if its an IRA...but its all taxable.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪