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I own a rental dwelling and a land parcel, but I do not own my primary residence. I have not owned a primary residence for more than two years. Do I qualify as a "first-time home buyer" for the purpose of the $10K penalty-free withdrawal from my IRA?

Mike already answered your question, but I wanted to add my thoughts on taking money out of your IRA for a home purchase. May I respond by pointing you to one of my earlier responses to this topic?

In your case, why not dispose of the rental or the parcel to get the funds for your down payment? IMHO, you'll be better off in the long run.


PS - the same apologies for the rant still apply.
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