| Author | Message | ||
     Conquas Side Hero Username: Conquas Post Number: 5324 Registered: 11-2011 Posted From: 99.82.251.78 Rating: N/A |
i am not exactly sure.... i don't want to give... wrong info... since you guys are filing jointly...they will allow upto 10000... 20k vundaka povacchu... i may be wrong too... all opinions expressed here are mine.. | ||
| Conquas Side Hero Username: Conquas Post Number: 5323 Registered: 11-2011 Posted From: 99.82.251.78 Rating: N/A |
just talk to your traditional ira brokerage guys.... they will help you... you have to submit... some kind home purchase related documentation..... all opinions expressed here are mine.. | ||
| Conquas Side Hero Username: Conquas Post Number: 5322 Registered: 11-2011 Posted From: 99.82.251.78 Rating: N/A |
traditional IRA lo 401k lo la long term loans vundavu... instead you can do this.... its a kind of loop hole.... you can take advantage.....like below...its a legal way... 60-Day Rollover Rule Once per year, the IRS allows you to rollover your IRA balance to another qualified plan, such as another IRA. As long as you complete the rollover within 60 days, you will not owe any taxes or penalties on the rollover. However, the IRS does not specify that you must rollover the funds into a different IRA account, so you can take money out of your IRA account and then replace it in your same IRA account within 60 days. You can use this rollover provision to effectively take a 60-day loan from your IRA once per year. http://www.ehow.com/info_7743057_can-loan-traditional-ira.ht ml#ixzz28d81zlzl all opinions expressed here are mine.. | ||
| Rudraksha Junior Artist Username: Rudraksha Post Number: 232 Registered: 07-2012 Posted From: 70.181.57.58 Rating: N/A |
10K teeyalantey, emina special forms untaya? and do we need to submit any proof that we spent the money towards home purchase? | ||
| Rudraksha Junior Artist Username: Rudraksha Post Number: 231 Registered: 07-2012 Posted From: 70.181.57.58 Rating: N/A |
so self+spouse ki oka 20K daka teeyavacha? anta kanna ekkuva ela teeyali? loans etc? | ||
| Rudraksha Junior Artist Username: Rudraksha Post Number: 230 Registered: 07-2012 Posted From: 70.181.57.58 Rating: N/A |
401k lo 0 amount undi, asalu account e ledu.  | ||
| Conquas Side Hero Username: Conquas Post Number: 5320 Registered: 11-2011 Posted From: 99.82.251.78 Rating: N/A |
they won't allow you to take entire traditional IRA amount for first time home buying.... First-time home purchase. You may be able to withdraw funds for certain home purchases, subject to a lifetime limit of $10,000 in pre-tax dollars. You must use the money for this purpose within 120 days of withdrawal. all opinions expressed here are mine.. | ||
| Gotcha Side Hero Username: Gotcha Post Number: 9339 Registered: 02-2008 Posted From: 99.33.2.10 Rating: N/A |
U can take loan on ur 401k kada? This real estate is for sale. | ||
| Rudraksha Junior Artist Username: Rudraksha Post Number: 229 Registered: 07-2012 Posted From: 70.181.57.58 Rating: N/A |
experts, how can I get IRA (traditional) money for the home purchase? Is there a way to get the money without any penalties? |
