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IRS says I underestimated my income because of a Roth IRA withdrawal
IRS says I underestimated my income because of a Roth IRA withdrawal I received a letter from the IRS today (it’s definitely a real letter from them, not a scam) saying that I understated my income in 2021 because I withdrew money from my Roth IRA. I took $40k from my account for the down payment on my house. I’ve always been under the impression that there is no penalty for withdrawing from the principle balance...
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