should I withdraw $41,000 from my IRA account and be subject to income tax or us

  1. profile image44
    Marguerite Bladenposted 7 years ago

    should I withdraw $41,000 from my IRA account and be subject to income tax or use a credit card...

    0% balance transfer to pay a down payment on land purchase from leasehold?  I am 80 years old

  2. TheBigWoo profile image56
    TheBigWooposted 7 years ago

    Is it a Roth IRA? I think you can withdraw the funds tax free if the money has been in the IRA longer than 5 years or else you will be charged 10%. Check with your local tax authority to confirm.

  3. Selfira Llc profile image61
    Selfira Llcposted 3 years ago

    You can transfer a portion of your IRA into a Self Directed IRA and purchase the property without tax consequences. The property san even be owner occupied because your are of retirement age!

 
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