3688010
You'll need to sign in or create an account to connect with an expert.
You might be confusing this with using money from an IRA for a down payment on a house. If you are under 59 1/2 and take money from a traditional IRA (not a 401k) to make a down payment on a home, the 10% early withdrawal penalty is waived on the first $10,000 although the distribution itself is taxable. There is no such rule for selling stock to purchase a home.
No. If you sell stock that has a gain, you pay the tax. It doesn't matter how you plan to use the money.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
M_S2010
New Member
mamamahon1
New Member
smfwalker
Level 2
Leo N
Returning Member
jjhz
New Member