I sold shares of a mutual fund & other stocks in order to pay a down payment on a first time home purchase. Do I still have to pay capital gains tax on those investments even though the $$$ was invested straight into a home?
Yes. If the funds were sold in a taxable account you will still pay tax on the capital gains. If that money was in a IRA then it will be taxed at the regular income rate but you will not have to pay the 10% penalty. In this case you can pull out a maximum of $10,000. If it was in a Roth IRA and you have held it for 5 years then you can pull out the principal tax free.
Investors lose as much as $17 billion annually in retirement dollars, or “at least” 5% to 10% of their retirement... http://t.co/yI67S17fgx
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