close
    If I take a large amount of cash out of my traditional IRA account for a downpayment on a house is there any way to keep it from spiking my taxes? I am over 59 1/2 years old.

    0  Views: 249 Answers: 2 Posted: 14 years ago

    2 Answers

    Very thoughtful answer franklin5, I am sure you helped heaps. Now to ANSWER the question get the down payment paid DIRECT from your a/c to the finance company this way the funds are not recorded in you named account as being paid to you. Best of luck and enjoy your new home. As for you franklin 5 you do not know any of the circumstances so don`t judge what you don`t know.
    why are you buying a house at 59 yrs.old,you should have one paid for before you retired.


    Top contributors in Uncategorized category

     
    ROMOS
    Answers: 18061 / Questions: 154
    Karma: 1102K
     
    Colleen
    Answers: 47269 / Questions: 115
    Karma: 953K
     
    country bumpkin
    Answers: 11322 / Questions: 160
    Karma: 838K
     
    Benthere
    Answers: 2392 / Questions: 30
    Karma: 760K
    > Top contributors chart

    Unanswered Questions

    8kbetgroupnet
    Answers: 0 Views: 14 Rating: 0
    68gamebain
    Answers: 0 Views: 10 Rating: 0
    98winvio
    Answers: 0 Views: 13 Rating: 0
    28betis
    Answers: 0 Views: 11 Rating: 0
    https://m88bet.day/
    Answers: 0 Views: 7 Rating: 0
    M88
    Answers: 0 Views: 9 Rating: 0
    001winlink
    Answers: 0 Views: 10 Rating: 0
    98WIN
    Answers: 0 Views: 10 Rating: 0
    > More questions...
    497725
    questions
    733609
    answers
    834193
    users