nihilism,I'll echo the earlier posts -- there's nothing except the IRA early withdrawal penalty that's affected by a first-time home purchase. But there's another issue: you don't say what kind of option you are selling. (Also, are you sure you're selling options, or might you be exercising the options and then immediately selling the stock??? The two can have different tax results.) If these are employee stock options (either "ISO" or "NQO" -- incentive stock options or nonqualified options, for the acronym-challenged ;) ) which you received from your employer, you may be taxed at ordinary income rates (up to 39.6%) on the gain from selling. That could leave you with much less for the house. :( You might want to check out the Employee Stock Option board here at TMF. There are lots of threads discussing the differences between option types, the tax consequences (including Alternative Minimum Tax in some circumstances), etc. Fool on!Barbara
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