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rmlambert18
New Member

Divorced female purchased house with a distribution from a sep account. is she eligible for the exception of the penalty tax? when married they owned a home.

divorced for 10 years; sep account was not a part of the divorce settlement; first home purchase since divorce

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Opus 17
Level 15

Divorced female purchased house with a distribution from a sep account. is she eligible for the exception of the penalty tax? when married they owned a home.

A “first time” home purchase means the taxpayer did not live in a home they owned at any time in the 2 years before the closing date on the new home.  

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

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Opus 17
Level 15

Divorced female purchased house with a distribution from a sep account. is she eligible for the exception of the penalty tax? when married they owned a home.

A “first time” home purchase means the taxpayer did not live in a home they owned at any time in the 2 years before the closing date on the new home.  

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

View solution in original post

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