Can Retirement distribution go to your principle of your mortgage? There was only 10% taken for Fed and no state and because of the amount, it says I owe taxes of $20K
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Can Retirement distribution go to your principle of your mortgage? There was only 10% taken for Fed and no state and because of the amount, it says I owe taxes of $20K
Can Retirement distribution go to your principle of your mortgage? There was only 10% taken for Fed and no state and because of the amount, it says I owe taxes of $20K
It is a taxable distribution regardless of where it is spent.
If an IRA and first time home buyer you can exclude $10,000 from the early withdrawal penalty if you have one.
Can Retirement distribution go to your principle of your mortgage? There was only 10% taken for Fed and no state and because of the amount, it says I owe taxes of $20K
It is a taxable distribution regardless of where it is spent.
If an IRA and first time home buyer you can exclude $10,000 from the early withdrawal penalty if you have one.
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