I read that one may withdraw $10K with no penalty if used toward buying a house for the first time. How do I apply that into turbotax? Thank you.
You'll need to sign in or create an account to connect with an expert.
No. That's not correct. There is a penalty exception for first time home buyers for IRA distributions up to $10,000.
Here are the other exceptions:
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
mayra_sqvl
Level 1
FitWit
Level 2
AggieJen
Level 3
Edge10
Level 2
kiks_722
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.