My spouse & I purchased 1st home & each took out $10k from IRA accounts-one Roth & one Simple. Why did Simple IRA not show option for New Home Purchase but the Roth did?

[nicole7]

Found answer. Thank you.

[Rachel_W]

There is an exception to the Early 10% Withdrawal Penalty for withdrawal's from IRA accounts for First-Time Home Purchases (no home ownership in prior two years).  This exception has a lifetime limitation of $10,000 per taxpayer and applies only to Traditional or Roth IRA's.