Re: If i borrowed 20,000 dollars from my Roth IRA to buy a home but retuned 10,000 back to the ac...

If i borrowed 20,000 dollars from my Roth IRA to buy a home but retuned 10,000 back to the account, how can i show that?

posted

Taking out a loan (and partially repaying it) from your Roth IRA is not a tax reportable event. Nothing is reported on your tax return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

you can't borrow from an IRA.

You had only 60 days to return all or part of that $20,000 to the same or a different Roth IRA.

If i borrowed 20,000 dollars from my Roth IRA to buy a home but retuned 10,000 back to the account, how can i show that?