Answered: Early withdrawal penalty from IRA to purchase 1ST home? Does the it also apply to 401-k, 403-B plans or other qualified pension plans? My say is no.

RCBCPA · ‎12-07-2019

Accountant-Man · ‎12-07-2019

Exemption from penalty only applies to IRA distributions. But if you took a 401k et al distribution and rolled it into an IRA, and then paid the closing costs from an IRA distribution...

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Accountant-Man · ‎12-07-2019

Exemption from penalty only applies to IRA distributions. But if you took a 401k et al distribution and rolled it into an IRA, and then paid the closing costs from an IRA distribution...

** I'm still a champion... of the world! Even without The Lounge.

TaxMonkey · ‎12-07-2019

Your say is correct, IRA only - IRC 72(t)(2)(F)

TAXOH · ‎12-07-2019

I think just IRA's.

Early withdrawal penalty from IRA to purchase 1ST home? Does the it also apply to 401-k, 403-B plans or other qualified pension plans? My say is no.

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