I’ve never owned a home buy my wife ownes the home we currently live in. We would like to purchase a new home. Can I qualify as a first time home owner for the purpose of a penalty free roth IRA earnings withdrawl? I see first time home owners are able to withdraw up to $10,000.
Posted by Ajacks50
2 Comments
If she owned a home in the last 3 years, and it’s her primary resident, you generally don’t qualify.
You may be mixing that up with traditional IRA. If it’s Roth you can pull out basis not only penalty free but tax free.