Solved
I withdrew $14,958.29 and had $4,484.49 Federal income tax withheld in FL and used $5,000.00 towards a down payment purchasing a home, does this qualify as an exception?
No text available
If the withdrawal was taken from an IRA account and you had not owned a primary residence for the two years prior to the closing date on this house, it would count as an exception to the 10% early distribution penalty on the $5,000. The money withdrawn would still be taxable income though.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
