IRA Withdrawal for Down Payment

01-25-2002, 12:46 PM

Chris60

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IRA Withdrawal for Down Payment

I had a self directed IRA that I took a withdrawal from to put a down payment on a house. I have two questions about my tax return for this year:

1. The stocks I sold to make the withdrawal I lost money on. Can I claim this loss on my taxes?

2. I purchased this house in August. Since I don't have a full year of interest to deduct from my taxes the tax consequences of the withdrawal will really hurt. Can I spread the withdrawal from my IRA over two years?

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