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Posted by mikeerdas on March 20, 2007, 3:05 pm
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I'm considering withdrawing up to 10K from my traditional
IRA for a first-time home purchase. My mutual fund company
offers the option of withholding taxes (at a % I specify)
from this distribution.
What are the advantages to this? What are the disadvantages?
Also, how do I prove I used the funds for closing/as part of
a downpayment? Do I sign the distribution check over to the
bank? Do I have to worry about co-mingling money?
Thanks very much.
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