topic My spouse &amp;amp; I purchased 1st home &amp;amp; each took out $10k from IRA accounts-one Roth &amp;amp; one Simple. Why did Simple IRA not show option for New Home Purchase but the Roth did? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/my-spouse-amp-i-purchased-1st-home-amp-each-took-out-10k-from-ira-accounts-one-roth-amp-one-simple/01/732603#M70237 <P>Found answer. Thank you.</P> Thu, 06 Jun 2019 16:18:05 GMT nicole7 2019-06-06T16:18:05Z My spouse &amp; I purchased 1st home &amp; each took out $10k from IRA accounts-one Roth &amp; one Simple. Why did Simple IRA not show option for New Home Purchase but the Roth did? https://ttlc.intuit.com/community/retirement/discussion/my-spouse-amp-i-purchased-1st-home-amp-each-took-out-10k-from-ira-accounts-one-roth-amp-one-simple/01/732603#M70237 <P>Found answer. Thank you.</P> Thu, 06 Jun 2019 16:18:05 GMT https://ttlc.intuit.com/community/retirement/discussion/my-spouse-amp-i-purchased-1st-home-amp-each-took-out-10k-from-ira-accounts-one-roth-amp-one-simple/01/732603#M70237 nicole7 2019-06-06T16:18:05Z There is an exception to the Early 10% Withdrawal Penalty... https://ttlc.intuit.com/community/retirement/discussion/there-is-an-exception-to-the-early-10-withdrawal-penalty/01/732609#M70238 <P>There is an&nbsp;<I>exception</I>&nbsp;to the Early 10% Withdrawal Penalty for withdrawal's from&nbsp;<I>IRA accounts</I>&nbsp;for&nbsp;<B>First-Time Home Purchases</B>&nbsp;(no home ownership in prior two years).&nbsp; This exception has a&nbsp;lifetime limitation of $10,000 per taxpayer and applies only to <U>Traditional or Roth IRA's</U>.&nbsp;</P> Thu, 06 Jun 2019 16:18:06 GMT https://ttlc.intuit.com/community/retirement/discussion/there-is-an-exception-to-the-early-10-withdrawal-penalty/01/732609#M70238 Rachel_W 2019-06-06T16:18:06Z