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New Member
posted Jun 5, 2019 3:35:50 PM

I took money out of retirement plan to purchase a house, is it still charged an early withdrawal penalty? If not, how do I enter in the system so it doesn't?

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1 Replies
Intuit Alumni
Jun 5, 2019 3:35:51 PM

There is an exemption for qualified first-time homebuyers, up to $10,000. This can only be from an IRA distribution, not a pension. If you took the money from your IRA, the screen shots below show you where to indicate the exception.