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Self directed IRA - to buy land
So I have a self directed IRA - that I bought land with the money from a traditional IRA I had from my employer.
The land in New Mexico and I no longer live there. My residence is in Oregon. We are a military family.
I recently took the land out of the self directed IRA and got the title to the land - I still have the land in my name. No cash just land.
I got a 1099-R because I took it out of the self directed IRA.
I know I have penalties for taking out early since I am not 59.5 years old
I know I have federal taxes to pay but when it comes to paying /to reporting it - which state do I pay taxes to?
Oregon or New Mexico? I did not sell the land - it is still in my name.
Thank you in advance
My question is
Topics:
‎February 9, 2023
12:11 PM