I cashed in my 401K to move and buy a house in another state, can I claim my down payment on my return to help. I paid the required taxes on the early withdrawal at the time of payout am I only supposed to pay the extra 10% at tax time. I also used this money to pay off my credit card debts, does that count??
Tracy L. Coenen is WalletPop's Tax Expert and Fraud Expert
Your down payment on a house is not a deductible item on your tax return.
Got an answer for Parle-G? Would you like to comment on the posted answers, or vote for the one which you think is the best?
Sign up for a free account, or sign in (if you're already a member).
Other people asked questions on similar topics, check out the answers they received:
Other people asked questions on various topics, and are still waiting for answer. Would be great if you can take a sec and answer them
