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Hi there,
Question related to Tax..
Can I distribute Principal amount of home loan under 80C between two People..
For example.. I Have principal amount of 2Lac.. and want to distribute it in 1.5 Lac & 50k between me and my Dad.. (my dad is co-owner in loan)
Can't find answer online so asking here.. if you find it... Link will be helpful.
Thanks
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Roll it into a retirement fund. 401k, IRA, etc. then you won’t have to pay income tax on it.
Just keep in mind anything you don't roll over you're going to pay 10% penalty on top of taxes unless you're over 59.
I took the fund and investment it on crypto
I'm thinking of doing the same thing. Taking part of the pension to pay off remaining student loan debt and then rolling the rest into an IRA.
Ideally you roll it over and use it for retirement. But obviously people don’t because hey cool it’s money