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I have some money tied up in mutual funds and I was thinking about paying off my car, will I be penalized?

2006-09-28 05:13:18 · 1 answers · asked by bizcax 1 in Business & Finance ➔ Personal Finance

1 answers

if the mutual funds are in a retirement account like an IRA, its just like taking money out. 10% plus your regular tax rate. Otherwise you'll just get taxed regularly if you've made a profit.

2006-09-28 06:08:23 · answer #1 · answered by cashmaker81 6 · 0⤊ 0⤋

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