Loretta P
Employee Tax Expert

Get your taxes done using TurboTax

Hello Carolegeo,  Congratulations on the new home.  You have 3 years in which to amend a filed return.  Normally you can use up to $10,000 withdrawn from an IRA toward the purchase of a home for a first time home buyer without having to pay the additional 10% penalty for early withdrawal from the IRA if you are under 59 1/2 years of age.

 

 

Helpful links:

Can I Redo My Taxes and Should I? 

Buying Your First Home 

 

I hope this answers your question.

 

Loretta P

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