early withdrawl from IRA, does buying land for the first time count as an exception to the penalty?

[Sancho24]

This year we cashed out our IRA accounts and used the money to purchase a piece of land that we will build a house on someday.  Does this qualify as an exception to the early withdrawl penalties under "first time home purchase"?  seems like a gray area that needs clarification.  Thanks for any input! 

[Opus 17]

It's not a gray area.  Land is not a home.  You need to close on the home that will be your primary residence within 120 days of the IRA withdrawal.  The land is not your primary residence, unless you are living on it in tent while you build your house.