Purchased home for child, first home, how to deduct from income Home › Fairmark Forum › Kids and College › Purchased home for child, first home, how to deduct from income Tagged: reduce income. first time home for child This topic contains 0 replies, has 1 voice, and was last updated by Charliewheels 4 months, 3 weeks ago. Viewing 1 post (of 1 total) Author Posts February 26, 2019 at 11:52 pm #2439 CharliewheelsParticipant I had to help my daughter out last year and purchased a mobile home for her family. The money for this was taken out of my IRA and I’d like to know if there is some way to not include this amount $15000, with my income? Author Posts Viewing 1 post (of 1 total) You must be logged in to reply to this topic.