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lmemec1
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I withdrew about $30,000 from my IRA to pay off my house in Ca.. Is this amount taxable as income?

 
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I withdrew about $30,000 from my IRA to pay off my house in Ca.. Is this amount taxable as income?

Yes it is taxable income and if you were under age 59 1/2, you must also pay a 10% early withdrawal penalty on your federal tax return. 

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I withdrew about $30,000 from my IRA to pay off my house in Ca.. Is this amount taxable as income?

Yes it is taxable income and if you were under age 59 1/2, you must also pay a 10% early withdrawal penalty on your federal tax return. 

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