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Subject:  Re: Buying Real Estate in an IRA Date:  8/6/2002  9:37 PM
Author:  TMFTaxes Number:  61115 of 127753

<<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...
TMF Taxes

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