IRA

[crawfish13]

If I cash out IRA before 59 1/2 years old and use to pay off my house, can I deduct this? 

[xmasbaby0]

Sorry-no.    If you take money from your IRA before you are 59 1/2, you will pay a 10% early withdrawal penalty plus ordinary income tax.    There is an exception for using IRA money for a down payment, but not for paying off an existing mortgage.

[DoninGA]

No.  Payoff of a mortgage is not deductible or reported on tax return

The payoff of the mortgage loan is not an exception to the 10% early distribution penalty from the IRA account.

[MinhT1]

No.

Cashing out your IRA before age 59 1/2 will incur income tax and a 10% early withdrawal penalty on the amount withdrawn.

Paying off your house is not an exception to the early withdrawal penalty.

See this TurboTax Help article.