I have a brokerage account set up by older relatives for emergencies/big life purchases. I'm taking 25k out of it to purchase a house and want to know the best way to do it so I don't wind up accidentally owing a bunch of taxes I was unprepared for.
-Is there any kind of tax break or penalty for using money on a down payment for a house?
-How much should I expect to pay in taxes for doing this?
-The total value of the brokerage account is around 80k. It is split between 62k of stocks, 13k of "500 Index Fund Admiral Shares", and 15k of "Tax-Managed Capital Appreciation Fund Admiral Shares".
-I also have a Roth IRA brokerage account with about 8k of "International Dividend Appreciation Index Fund Admiral Shares". Should I use this for part of it?
Submitted May 23, 2020 at 06:58PM by AnimalCity https://ift.tt/2LWhziZ
