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Financial Planning / Tax Strategies


Subject:  Re: IRA Withdrawal for Closing Costs Date:  2/2/2000  9:33 AM
Author:  TMFTardior Number:  26751 of 129584


You should perhaps contact the IRS with this question, but it is my impression that it is too late. The way I understand it, you have 120 days to withdraw funds from the day you enter into the binding contract. Here's a link that may be of use:

I myself don't think that this is bad news, however. If I were able to purchase the house without tapping into my tax-advantaged accounts, I'd leave the IRA alone, particularly if it's a Roth IRA or you would incur a big capital gains tax on your traditional IRA investments. I'd prefer to maintain my tax advantage and stay the course of retirement saving.

Fool on!
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