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Kaelyn See
  • Investor
  • Los Angeles, CA
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Need Advice on Using Retirement Brokerage for Home Downpayment

Kaelyn See
  • Investor
  • Los Angeles, CA
Posted

Coming on here because our real estate agent nor local CPA can confirm. We'd like to purchase a home using my grandmother's (retired for over 10 years) funds from her retirement brokerage and brokerage account for a downpayment. We heard that there is a way to rollover this money into the downpayment without withdrawing the money directly and it being taxed as an income for my grandmother. Any advice?

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Joe Homs
  • Flipper
  • Mission Viejo, CA
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Joe Homs
  • Flipper
  • Mission Viejo, CA
Replied

@Kaelyn See maybe convert it to a self-directed account?  Is this going to be a loan?  I would reach out to @Dmitriy Fomichenko to ask his opinion.

Good Investing...

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