I am 69 and this is not my first home purchase.
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No. A first home only applies to the additional 10% early distribution penalty that does not apply to you anyway since you are older than 59 1/2. That has nothing to do with the normal tax.
No. A first home only applies to the additional 10% early distribution penalty that does not apply to you anyway since you are older than 59 1/2. That has nothing to do with the normal tax.
Unfortunately, the withdrawal from your Traditional IRA is taxable and there is no way to reduce taxes. As you are over 59 1/2, there is no early withdrawal penalty.
There is only an exception to the early withdrawal penalty (but not tax) for qualified first-time home buyers for withdrawals up to $10,000.
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