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Retirement tax questions
This is impossible to answer since you didn't give enough information but expect to pay 30% or more to taxes if you do it this way. If you just need some time between the sale of your current home and the purchase of the other you may want to take out a short term loan or mortgage to bridge the gap then pay it off when the old home sells. Taking a large sum from a retirement plan is the last thing you want to do if you have other options available to you that are much cheaper. Seek local professional guidance from a financial advisor and/or a mortgage broker.
‎September 1, 2019
1:48 PM