topic Ira withdrawal for first time homebuyer in Other financial discussions https://ttlc.intuit.com/community/other-financial-discussions/discussion/ira-withdrawal-for-first-time-homebuyer/01/1725880#M7318 <P>I'm doing a withdrawal as a first time homebuyer and I am under the impression that I will not be charged penalties and fees since it's being used towards a home. However my account is suggesting a 10% tax withholding. If I choose to do this and I'm not going to get taxed, do I get it back in my end of year refund?</P> Mon, 28 Sep 2020 22:55:25 GMT jabrownin 2020-09-28T22:55:25Z Ira withdrawal for first time homebuyer https://ttlc.intuit.com/community/other-financial-discussions/discussion/ira-withdrawal-for-first-time-homebuyer/01/1725880#M7318 <P>I'm doing a withdrawal as a first time homebuyer and I am under the impression that I will not be charged penalties and fees since it's being used towards a home. However my account is suggesting a 10% tax withholding. If I choose to do this and I'm not going to get taxed, do I get it back in my end of year refund?</P> Mon, 28 Sep 2020 22:55:25 GMT https://ttlc.intuit.com/community/other-financial-discussions/discussion/ira-withdrawal-for-first-time-homebuyer/01/1725880#M7318 jabrownin 2020-09-28T22:55:25Z Re: Ira withdrawal for first time homebuyer https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725901#M7319 <P>For a first time homebuyer you can withdraw from an IRA up to $10,000 and not incur a 10% early distribution penalty.&nbsp; However, the amount withdrawn is still taxable income to be reported on your tax return.</P> <P>The recommendation for tax withholding is good advice.</P> Mon, 28 Sep 2020 23:20:17 GMT https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725901#M7319 DoninGA 2020-09-28T23:20:17Z Re: Ira withdrawal for first time homebuyer https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725908#M7320 <P>Thank you! And I will be taxed at my regular income level, correct?</P> Mon, 28 Sep 2020 23:32:07 GMT https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725908#M7320 jabrownin 2020-09-28T23:32:07Z Re: Ira withdrawal for first time homebuyer https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725956#M7321 <BLOCKQUOTE><HR /><LI-USER uid="2683374"></LI-USER>&nbsp;wrote:<BR /> <P>Thank you! And I will be taxed at my regular income level, correct?</P> <HR /></BLOCKQUOTE> <P>Correct</P> Tue, 29 Sep 2020 00:51:04 GMT https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725956#M7321 DoninGA 2020-09-29T00:51:04Z Re: Ira withdrawal for first time homebuyer https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725958#M7322 <P>But be careful the withdrawal is added to all your income and&nbsp;might push you into a higher tax bracket.</P> Tue, 29 Sep 2020 00:59:44 GMT https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725958#M7322 VolvoGirl 2020-09-29T00:59:44Z
This XML file does not appear to have any style information associated with it. The document tree is shown below.
<rss xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:taxo="http://purl.org/rss/1.0/modules/taxonomy/" version="2.0">
<channel>
<title>
topic Ira withdrawal for first time homebuyer in Other financial discussions
</title>
<link>
https://ttlc.intuit.com/community/other-financial-discussions/discussion/ira-withdrawal-for-first-time-homebuyer/01/1725880#M7318
</link>
<description>
<P>I'm doing a withdrawal as a first time homebuyer and I am under the impression that I will not be charged penalties and fees since it's being used towards a home. However my account is suggesting a 10% tax withholding. If I choose to do this and I'm not going to get taxed, do I get it back in my end of year refund?</P>
</description>
<pubDate>Mon, 28 Sep 2020 22:55:25 GMT</pubDate>
<dc:creator>jabrownin</dc:creator>
<dc:date>2020-09-28T22:55:25Z</dc:date>
<item>
<title>Ira withdrawal for first time homebuyer</title>
<link>
https://ttlc.intuit.com/community/other-financial-discussions/discussion/ira-withdrawal-for-first-time-homebuyer/01/1725880#M7318
</link>
<description>
<P>I'm doing a withdrawal as a first time homebuyer and I am under the impression that I will not be charged penalties and fees since it's being used towards a home. However my account is suggesting a 10% tax withholding. If I choose to do this and I'm not going to get taxed, do I get it back in my end of year refund?</P>
</description>
<pubDate>Mon, 28 Sep 2020 22:55:25 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/other-financial-discussions/discussion/ira-withdrawal-for-first-time-homebuyer/01/1725880#M7318
</guid>
<dc:creator>jabrownin</dc:creator>
<dc:date>2020-09-28T22:55:25Z</dc:date>
</item>
<item>
<title>Re: Ira withdrawal for first time homebuyer</title>
<link>
https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725901#M7319
</link>
<description>
<P>For a first time homebuyer you can withdraw from an IRA up to $10,000 and not incur a 10% early distribution penalty.&nbsp; However, the amount withdrawn is still taxable income to be reported on your tax return.</P> <P>The recommendation for tax withholding is good advice.</P>
</description>
<pubDate>Mon, 28 Sep 2020 23:20:17 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725901#M7319
</guid>
<dc:creator>DoninGA</dc:creator>
<dc:date>2020-09-28T23:20:17Z</dc:date>
</item>
<item>
<title>Re: Ira withdrawal for first time homebuyer</title>
<link>
https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725908#M7320
</link>
<description>
<P>Thank you! And I will be taxed at my regular income level, correct?</P>
</description>
<pubDate>Mon, 28 Sep 2020 23:32:07 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725908#M7320
</guid>
<dc:creator>jabrownin</dc:creator>
<dc:date>2020-09-28T23:32:07Z</dc:date>
</item>
<item>
<title>Re: Ira withdrawal for first time homebuyer</title>
<link>
https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725956#M7321
</link>
<description>
<BLOCKQUOTE><HR /><LI-USER uid="2683374"></LI-USER>&nbsp;wrote:<BR /> <P>Thank you! And I will be taxed at my regular income level, correct?</P> <HR /></BLOCKQUOTE> <P>Correct</P>
</description>
<pubDate>Tue, 29 Sep 2020 00:51:04 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725956#M7321
</guid>
<dc:creator>DoninGA</dc:creator>
<dc:date>2020-09-29T00:51:04Z</dc:date>
</item>
<item>
<title>Re: Ira withdrawal for first time homebuyer</title>
<link>
https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725958#M7322
</link>
<description>
<P>But be careful the withdrawal is added to all your income and&nbsp;might push you into a higher tax bracket.</P>
</description>
<pubDate>Tue, 29 Sep 2020 00:59:44 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/other-financial-discussions/discussion/re-ira-withdrawal-for-first-time-homebuyer/01/1725958#M7322
</guid>
<dc:creator>VolvoGirl</dc:creator>
<dc:date>2020-09-29T00:59:44Z</dc:date>
</item>
</channel>
</rss>