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Subject:  First Home IRA Distribution Date:  1/22/2000  10:51 AM
Author:  lezamora1 Number:  25727 of 127613

Greetings Fooldom!

I know that Uncle Sammy allows me to withdraw up $10,000 from a Tradtional IRA towards a "first-time" home purchase. Furthermore, I know that in order to do similarly with a Roth IRA, the Roth IRA must be at least five years old.

Is there any such stipulation for the Traditional IRA first-time home purchase withdrawal? My Foolish plan is to convert some 401(k) money I happen to have at my disposal right now to a Traditional IRA and use it this summer to close on a house--if it can be done.

Thank you for your time. Fool on!
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