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New Member
posted Jun 6, 2019 4:24:57 AM

I don't see a deduction for both of us for our down payment on our house.

I see a deduction for $10k for buying a house for one of the two of us, but the retirement account was a joint account, so I thought we would be able to pull $10k each from our retirement.

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1 Best answer
Expert Alumni
Jun 6, 2019 4:24:59 AM

If this was an IRA, by law they can't be held jointly. You could be a beneficiary of your spouse's IRA, or you can have a separate spousal IRA, but you can't have one IRA account for two people.

1 Replies
Expert Alumni
Jun 6, 2019 4:24:59 AM

If this was an IRA, by law they can't be held jointly. You could be a beneficiary of your spouse's IRA, or you can have a separate spousal IRA, but you can't have one IRA account for two people.