I am going to take a distribution from my retirement to help pay the down payment on a new home. Is there any way I can be taxed at a lower rate if for a home? I am 60.

laplace127 — Wed, 05 Jun 2019 02:12:02 GMT

I am rolling the profit from the sale of our old house into the new house so it doesn't get taxed. Is there also a provision for lower tax rate on a retirement distribution if it is also for just buying your next home which is like an investment for retirement?

No. The taxable portion of a distribution from your reti...

dmertz — Wed, 05 Jun 2019 02:12:03 GMT

No. The taxable portion of a distribution from your retirement account (usually the entire amount) is taxable as ordinary income.

topic I am going to take a distribution from my retirement to help pay the down payment on a new home. Is there any way I can be taxed at a lower rate if for a home? I am 60. in Retirement tax questions

I am going to take a distribution from my retirement to help pay the down payment on a new home. Is there any way I can be taxed at a lower rate if for a home? I am 60.

No. The taxable portion of a distribution from your reti...