KenH1
New Member

Retirement tax questions

For the 10% exception you can exclude up to $10,000 in home acquisition costs, so you should net out the $1319 from the $5860. From IRS Pub 590-B:

Qualified acquisition costs. Qualified acquisition costs include the following items. Costs of buying, building, or rebuilding a home. Any usual or reasonable settlement, financing, or other closing costs. 

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