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Hello all,

I have gone through "All About IRAs" and searched this discussin group and I am once again amazed at all the info from TMF site and it's fellow fools! I still have some questions though, so here goes.

Two months ago I changed jobs. I have a good piece of change in my old employers 401k and plan on rolling it over into a traditional IRA. I also plan on buying a house within the next 8 months. I qualify as a "first time home buyer" and was thinking about using some of my $10k distribution for my downpayment. My questions:

1. If I make the qualified distribution will I still be able to roll the IRA into another 401k if my employer provides a plan at some future time?

2. Is there any type time limit on how long the money must be held in the IRA before I can receive the qualified distribution?

3. Is this idea foolish or Foolish? ;-)

Thanks in advance, any help is appreciated.

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