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Would I qualify as a 1st time homebuyer for early IRA distribution?
Old 10-14-2010, 10:24 AM   #1
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Would I qualify as a 1st time homebuyer for early IRA distribution?

I am considering paying off my mortgage a bit early, and to do so, would need to withdraw money from my traditional IRA...about 20k.

I have owned the home for 8 years....but since I am paying off my 1st home (which is essentially PURCHASING the home...as right now I have a morgage), would I qualify to not pay the 10% penalty on the 1st 10k of that withdrawal?
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Old 10-14-2010, 11:10 AM   #2
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No, you don't qualify.

First-Time Homebuyer
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Old 10-14-2010, 11:49 AM   #3
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well that's bologna
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