Home Buyer Credit, Taxes and IRA's? - home buyer credit ira
I am thinking seriously about taking advantage of the time 8k $ 1 credit for buyers of this year. But I understand the tax consequences in this regard. Question: In my opinion, the $ 8K will not be paid and is refundable. Is that correct? Second question: Let's say I wanted a loan of 5 km from my IRA to help with Down, what are the concerns of the tax? I know he would be responsible for taxes, which I retired, but would also be a penalty for early withdrawal? Third question: If you combine the tax burden distribution at the beginning of the IRA, the tax credit of $ 8K and expenditure of households that are written by taxes (points, etc.), it is possible that I can receive a refund equal to or near the amount of your IRA distribution? How could in essence, put money in my IRA? Can we not the math and explain? Thx.
Sunday, January 31, 2010
Home Buyer Credit Ira Home Buyer Credit, Taxes And IRA's?
2 comments:
8000 Credit buyers must be returned, it comes from your tax return in the coming years. is essentially a government loan. it should be no penalties associated with the 5000 from an IRA, only pay taxes on profits, if any.
8000 Credit buyers must be returned, it comes from your tax return in the coming years. is essentially a government loan. it should be no penalties associated with the 5000 from an IRA, only pay taxes on profits, if any.
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