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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13323
Experience:  15years with H & R Block. Divisional leader, Instructor
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When buying a house, if you take money out of your

Customer Question

When buying a house, if you take money out of your investments with Wells Fargo, what is the tax ramifications?
Submitted: 1 year ago.
Category: Tax
Expert:  Robin D. replied 1 year ago.

Hello,

If you must sell stock or bonds that is a reportable tax event.

If you receive (sell) the investment item for more than you paid for it, that is a gain. The gain is what is taxable.

It is not relevant for tax what you do with the money only that you receive more than you invested initially (or the basis in the investment).

Please advise if you need more information or rating in a positive way is acceptable.

Expert:  Robin D. replied 1 year ago.

If my answer addressed your question please rate below or above (let me know if you have difficulty as I believe the system changed), if you need more information reply below.

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