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    3. 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.
    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.

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    0  Views: 402 Answers: 2 Posted: 15 years ago
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      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.
      15 years ago. Rating: 0
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        why are you buying a house at 59 yrs.old,you should have one paid for before you retired.
        15 years ago. Rating: 0
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