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re: IRA withdrawal for home purchase

Posted on 2/17/13 at 8:02 am to Powerman
Posted by JB Bama
Tuscaloosa, AL
Member since Sep 2008
2669 posts
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Posted on 2/17/13 at 8:02 am to Powerman
Also although you won't have to pay the 10% penalty you will still get a 1099-r counting the 10k as income. So depending in your tax bracket you'll lose a chunk.
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Posted by tigerzballzdeep
Rockwall, TX
Member since Jun 2007
3095 posts
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Posted on 2/17/13 at 10:29 am to JB Bama
Thank you for this piece of advice. I will check with our CPA on the additional income this would come out to as it relates to our earnings tax.

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