1) You can take up to $10,000 distribution from a Traditional IRA for a first time home purchase without the 10% early distribution penalty (the regular tax on the distribution still applies) if the money is used for the home purchase within 120 days of the distribution. Spanning tax years makes no difference except the distribution is taxable in the tax year that it is taken, not used so if taken in December it will be taxable on your 2019 tax return, it taken in January it will be taxable in a year on your 2020 tax return. For first time home buyers treatment the distribution must be prior to closing.
2) 401(k) distributions have no first time home buyers provisions so would be subject to both tax and 10% penalty if under age of 59 1/2.
3) 401(k) loans have no tax consequence at all since they must be paid back. The plan terms dictate if you can get a loan for that purpose. Ask the 401(k) plan administrator.
**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.**
