Retirement Acct With AFTER TAX Dollars.

by Issy
(Florida)

I am 60 Years old and file jointly with my wife. If I deposit AFTER TAX dollars into a new or existing retirement account, then within a year withdraw most of the funds to purchase a new homestead, (current homestead in foreclosure), is that withdrawal subject to additional taxes or penalties? Is there an account that allows me to accomplish this?

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Questions.


Please subscribe to my monthly newsletter, Bookkeeping Basics E-zine. It tells you each month about the new information that I have added, including some great tips and advice from myself and other Bookkeeping Basics readers.


Enter Your E-mail Address
Enter Your First Name (optional)
Then

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Bookkeeping Basics E-Zine.


Like Bookkeeping-Basics.net?