Fermion
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I was just toying around with future possibilities and discovered that you and your spouse can each with draw $10,000 toward buying or building a first home (ie, you have not owned a home in the past 2 years).
Since I have managed to grow my IRAs some amazing amount (128% return last year and 46% return this year), I wouldn't feel too bad about accessing them for this if it was needed.
My question would be, how does this work when you are building a home? Can you save the receipts from a purchase and withdraw the money at a later date like you can with HSA and medical bills? If the home is not completed until 2021, can we defer the withdrawal until then?
Since I have managed to grow my IRAs some amazing amount (128% return last year and 46% return this year), I wouldn't feel too bad about accessing them for this if it was needed.
My question would be, how does this work when you are building a home? Can you save the receipts from a purchase and withdraw the money at a later date like you can with HSA and medical bills? If the home is not completed until 2021, can we defer the withdrawal until then?
