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emc011075, Tax adviser
Category: Tax
Satisfied Customers: 2928
Experience:  IRS licensed Enrolled Agent and tax instructor
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My husband is retired and he took some money out of his IRA

Customer Question

My husband is retired and he took some money out of his IRA to help my son buy a condo is there anyplace on the tax form that he can put he reinvested that money. As it stands now it is really messing us up as i had to use obamacare and now it puts us over the amount allowed. My name is ***** ***** condo with my son. Thanks Judy
Submitted: 1 year ago.
Category: Tax
Expert:  emc011075 replied 1 year ago.
Hi, Judy. My name is ***** ***** I will be happy to help you. Unfortunately distributions from IRA or other retirement vehicles cannot be reinvested for any reasons. I am assuming your husband is at least 59 1/2 so there's no penalty but there's no way to exclude the distribution from your income. I am sorry I wish I could give you better news.
Expert:  emc011075 replied 1 year ago.
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