mortgage

Genaray2667 — Mon, 30 Mar 2020 17:14:09 GMT

I started buying my house in 2019 and paid insurance out of a 401k withdrawal but didnt close on my house til 2020 feb can I claim any of this/

Re: mortgage

xmasbaby0 — Mon, 30 Mar 2020 19:23:02 GMT

If you did not close on the house in 2019 then you do not have homeownership deductions to use on a 2019 tax return.

However, if you took money out of a 401k in 2019 you are going to have to enter a 1099R for that withdrawal from your retirement account. If you are under the age of 59 1/2 you have a 10% early withdrawal penalty as well as ordinary income tax for that withdrawal.

To enter your retirement income, Go to Federal> Wages and Income>Retirement Plans and Social Security>IRA 401 k) Pension Plan Withdrawals to enter your 1099R.

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mortgage

Re: mortgage