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cszullo
New Member

I am a first time homebuyer and withdrew $7900 from my 403(b) to go towards costs related to the purchase of my home, would i place this amount under "other"

 
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2 Replies

I am a first time homebuyer and withdrew $7900 from my 403(b) to go towards costs related to the purchase of my home, would i place this amount under "other"

The 10% early distribution penalty exclusion for a first time home purchase is only when the distribution is from an IRA.

Using funds from the 403(b) are not an exception to the early withdrawal penalty.

dmertz
Level 15

I am a first time homebuyer and withdrew $7900 from my 403(b) to go towards costs related to the purchase of my home, would i place this amount under "other"

And just to be clear, a 403(b) is not an IRA.

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