@kshickora wrote:
I used all of the IRA money towards my new home. When I purchased my first home 7 years ago, I did not use the IRA money towards the purchase. Can I use the $10,000 limit towards the purchase of my new home?
No - it is not your first home if you had a home from 7 years ago within the past two years.
Per IRS Pub 590-B
https://www.irs.gov/publications/p590b#en_US_2020_publink1000230922
First-time homebuyer.
Generally, you are a first-time homebuyer if you had no present interest in a main home during the 2-year period ending on the date of acquisition of the home which the distribution is being used to buy, build, or rebuild. If you are married, your spouse must also meet this no-ownership requirement.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
