I did an early distribution from my IRA for a down payment on a first home. What is the correct way to code this so I am not penalized?

syrinx114 — Tue, 04 Jun 2019 00:21:35 GMT

You can take up to $10,000 as long as you use it to close...

Opus 17 — Tue, 04 Jun 2019 00:21:36 GMT

You can take up to $10,000 as long as you use it to close within 120 days of the withdrawal. You still owe regular income tax of course. Enter the 1099-R exactly as you received it. Then keep going in the interview, you will be asked a question about whether you qualify for an exception, you can check the box for first time home buyer.

topic I did an early distribution from my IRA for a down payment on a first home. What is the correct way to code this so I am not penalized? in Retirement tax questions

I did an early distribution from my IRA for a down payment on a first home. What is the correct way to code this so I am not penalized?

You can take up to $10,000 as long as you use it to close...