Did you know that you could make monthly
withdrawals from your IRA, without penalty, to purchase real estate - investment
property, second home or primary residence? This can be done even before you
turn 59 1/2, as long as you take substantially equal periodic payments based
upon a formula set out by the tax code.
And, by using the money to pay a
mortgage on real estate, the savings in the mortgage interest deduction can
off-set the tax owed on the withdrawal. This is a great way to shift your assets
from highly taxed IRA to real estate with better tax benefits. Read More from
the IRS about it at: http://www.irs.gov/retirement/article/0,,id=103045,00.html
It's
a great time to purchase real estate and this could be a vehicle to help you
with that.
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