Buying a house

jrhodenphotography said...


We are looking to buy a home - my grandparents are loaning us th money and both their name and ours will be on the deed. We are going to do some repair work that is needed for the home to qualify for financing then we will take out a loan to repay my grandparents. What needs to be done so that we aviod having to pay taxes on the amount loaned ($50,000)?

Paying off the credit cards

Rebeca said...


Hello. I would like to know if there is a way to pay my credit cards with money I receive on stocks I sell without having to deposit the money into my checking account first. I don't know the legalities of this is, but I know there are different legal ways of managing money. I have plans to put some of it into CDs or a Roth account for my son also and I imagine this can be done through my bank with some of the money before depositing it. Thank you for your help.

Distribution from Roth IRA for first time home purchase.

Jeffrey said...

Dear Mr. Asraf,

I have a super-specific tax question that I haven't been able to answer:

A first-time homebuyer can put an untaxed distribution of up to $10,000 from a Roth-IRA toward the purchase of a primary residence, within 120 days of distribution. The question I have is: Must the purchased home be in the United States of America? I have yet to see any restriction on the national location of the purchased property, but, before I go moving my savings around, I want to make sure that this isn't an unspoken restriction. Do you happen to know? Strange and precise question, I know....


grüße

Jeff