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Retirement tax questions
It depends.
If the IRA distribution was used for the primary residence you already own then the 10% early distribution penalty would apply if you are under the age of 59 1/2.
If the IRA distribution was used for a first-time home purchase then the 10% early distribution penalty would not apply on the first $10,000 withdrawn.
‎April 8, 2022
12:18 PM