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I took out $60,000 from my Trad-IRA to put a down payment on my first home. I understand that I can pull $10,000 from my Trad-IRA tax free when doing this, but the...
I took out $60,000 from my Trad-IRA to put a down payment on my first home. I understand that I can pull $10,000 from my Trad-IRA tax-free when doing this, but the other $50,000 is taxed. Is the tax a flat 10% for doing this or does it scale with your income?
I ended up taking 24% federal and 4.50% state out of the full $60,000 because I was unsure...
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‎June 7, 2019
3:25 PM