Sold retirement assets to use towards down payment of home. How can i reduce income reflecting this amount?

This is affecting ACA premium credit

posted

Your retirement distribution is taxable as retirement income and will count as income for determining the health insurance Advance Premium Tax credit. There is no way to change this.

Please read this Healthcare.gov document for more information.

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

I am retired, made 401k withdrawals. I had 10% withheld for Federal Income tax, totaling $9000, as reported on my 1099-R. Are these estimated federal tax payments ?

in Retirement tax questions

Expert does your taxes

Do it yourself

Resources

Support

Sold retirement assets to use towards down payment of home. How can i reduce income reflecting this amount?

Sold retirement assets to use towards down payment of home. How can i reduce income reflecting this amount?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

Sold retirement assets to use towards down payment of home. How can i reduce income reflecting this amount?

Do you have an Intuit account?

Sold retirement assets to use towards down payment of home. How can i reduce income reflecting this amount?

Unlock tailored help options in your account.

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert