Retirement tax questions


@kmccreary wrote:

 I am under the impression that i can use this money tax free if we have not purchased a house in the last two years. 


Not tax free.    Up to $10,000 can be distributed without the additional early distribution penalty but the  normal tax on the distribution still applies.

 

See IRS pub 590B for details.  (The same rules for a Traditional IRA apply to a SIMPLE IRA for first home).

https://www.irs.gov/publications/p590b#en_US_2018_publink1000230922

**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.**