I changed jobs and rolled/transferred my 401k assets into a self managed IRA. I am eligible for the 1st time homebuyer exclusion and am curious if these funds can be used without the penalty. I am aware of all of the arguements against doing this (opportunity cost). I have reviewed IRS 590 and am under the opinion that this type if IRA is considered a traditional IRA, and as such qualifies for use. What say you?AK
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