Traditional IRA » first time home

First Time Home Buying

admin — Tue, 08 May 2007 14:39:05 +0000

What does the IRA distribution for first time home buying has to be used for? IRA Distribution of IRA funds under the First Time Home Buyer provisions must be used to pay “qualified acquisition costs” before the close of the 120th day after the day the distribution was received. What are qualified acquisition costs? Qualified acquisition costs include [...]

First Time Home Buying is a post from: Traditional IRA

First Time Home Buyer

admin — Thu, 05 Apr 2007 22:47:17 +0000

What is the Traditional IRA distribution and Roth IRA distribution exception for a first time home buyer? Individuals may take IRA distributions from their Traditional IRA or Roth IRA accounts to pay up to $10,000 of first time home buyer expenses without incurring a 10% penalty. (The 10% penalty would otherwise be applicable if an individual is [...]

First Time Home Buyer is a post from: Traditional IRA