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June 1, 2019
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We paid $24.688.00 for a down payment on a second home in New Mexico. this is what we used the distribution from the 1099R for. Can we deduct the 24,688.

  • June 1, 2019
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Best answer by AnnetteB6

No, there is not a deduction (or an exception to an early distribution penalty if that applies to your distribution) available for down-payments on a second home.


1 reply

AnnetteB6Answer
June 1, 2019

No, there is not a deduction (or an exception to an early distribution penalty if that applies to your distribution) available for down-payments on a second home.


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