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When using an IRA for a down payment on a home purchase, there are specific rules and regulations to follow. Generally, you can withdraw up to 10,000 penalty-free for a first-time home purchase. However, there are certain criteria to meet, such as being a first-time homebuyer and using the funds within 120 days of withdrawal. It's important to consult with a financial advisor or tax professional to understand the specific rules that apply to your situation.

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The rules and regulations for a 403(b) withdrawal for a home purchase allow for penalty-free withdrawals up to 10,000 if you are a first-time homebuyer. However, you may still need to pay income tax on the withdrawn amount. It's important to consult with a financial advisor or tax professional before making a withdrawal.


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Individuals can withdraw up to 10,000 from their IRA for a first-time home purchase without penalty if they meet certain criteria, such as being a first-time homebuyer or not owning a home in the past two years. The distribution must be used within 120 days of withdrawal, and there are specific rules and regulations to follow to avoid penalties and taxes.


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In 2014, first-time home buyers could withdraw up to 10,000 from their 401k without penalty for a down payment. However, income tax would still apply on the withdrawn amount.


What are the rules and regulations surrounding a first-time home buyer 401k withdrawal in 2016?

In 2016, first-time homebuyers could withdraw up to 10,000 from their 401(k) without penalty for a down payment. However, income tax would still apply on the withdrawn amount.

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What are the rules and regulations surrounding a 403b withdrawal for a home purchase?

The rules and regulations for a 403(b) withdrawal for a home purchase allow for penalty-free withdrawals up to 10,000 if you are a first-time homebuyer. However, you may still need to pay income tax on the withdrawn amount. It's important to consult with a financial advisor or tax professional before making a withdrawal.


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