Your Traditional IRA and Buying a Home

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Can I take a penalty free distribution from my Traditional IRA to use for the purchase of a home?

Your Traditional IRA and Buying a Home

If you are going to use your Traditional IRA to purchase a home, you can take a penalty free distribution. There are rules and limits that apply, however, you can use this distribution to build or repair your first home, a home for your spouse, grandchildren, or for yours and your spouse's parents. Check with your financial planner or financial institution before withdrawing money from your IRA.

   

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