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Retirement tax questions
If you withdraw from your IRA to buy your first home (and assuming that you are under age 59 1/2). the whole amount of the distribution is subject to income tax. Also, you will have to pay an early withdrawal penalty of 10% on the amount less up to $10,000 (which is the exception to the penalty when you buy your first home).
Please read this TurboTax FAQ:
https://ttlc.intuit.com/replies/3301632
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‎June 4, 2019
2:02 PM