The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Buying Real Estate in an IRA||Date: 8/6/2002 9:37 PM|
|Author: TMFTaxes||Number: 61115 of 124471|
<<Remember that a withdrawal taken from a Roth IRA for the purchase of a first home is considered a qualified distribution after the account has been open for five tax-years. >>
True...but don't forget to post the rest of the paragraph...
<<As such, any distribution taken from a Roth for that purpose and under those conditions will be both income tax- and penalty-free.>>
So...what I was TRYING to say with such a badly written paragraph is that if you meet the five year rule, you might just have a QUALIFIED distribution...not only penalty free, but also tax free.
Thanks for the help...
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