Investors & landlords

What investments?  Do you mean money from a retirement account?  Money from a brokerage account?  

 

If you took money out of a retirement account like an IRA, and you are under 59 1/2, you pay a 10% early withdrawal penalty plus ordinary income tax.  You will get a 1099R for that.

 

If you sold some sort of stocks or investment funds, you will get a 1099B.   

 

Or did you get the money from someplace else?

 

Not sure why you think there is going to be a benefit for purchasing a car---which usually begins to lose value when you drive out of the dealership in it.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**