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4ad
Level 1

I have a 1099R that was used to purchase my home, do I not get a tax break for that? I made the withdrawal in 2015. Paid portions back but left the company. Thus 1099R

I was just hoping/ thinking that i would get some tax break since it assisted with me purchasing my home.

1 Reply
Level 1

I have a 1099R that was used to purchase my home, do I not get a tax break for that? I made the withdrawal in 2015. Paid portions back but left the company. Thus 1099R

Unfortunately, no.  Only distributions from IRAs are not subject to the additional tax if the funds were used for a first home purchase.