Should mom withdraw from her IRA to fund daughter’s home remodeling?
I withdraw monthly from the IRA to supplement our Social Security payments for day-to-day living expenses. Withdrawing approximately $300,000 from my IRA to help her pay for the addition would cause us to owe a huge tax bill. My house would probably sell for around $650,000, but my daughter and her family are living with us until their house is done.
This article is available to Insider Pro subscribers only.Sign in or register to be an Insider Pro and access ALL LOCKED articles.
Social Security: Social Security serves people like you: veterans, women, LGBTQ+ and more
Smart Home Insurance Market 2022 Global Analysis by Size, Share, Revenue, Key Players Analysis, Major Region and Industry Trend, Forecast to 2028: Intelligence Market Report Publish New Research Report On-“Smart Home Insurance Market 2022 Global Analysis by Size, Share, Trends, Opportunities and Regional Growth, Forecast 2028”
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News