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The only tax break you get for using an IRA withdrawal for a first time home purchase is an exception to the 10% early withdrawal penalty on up to $10,000. Since you were already 59 1/2 when you took the withdrawal, you are not subject to the penalty anyway.
You must enter the 1099-R for the withdrawal on your tax return and pay ordinary income tax on the taxable amount of the withdrawal.
The only tax break you get for using an IRA withdrawal for a first time home purchase is an exception to the 10% early withdrawal penalty on up to $10,000. Since you were already 59 1/2 when you took the withdrawal, you are not subject to the penalty anyway.
You must enter the 1099-R for the withdrawal on your tax return and pay ordinary income tax on the taxable amount of the withdrawal.
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