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In 1998, I cashed out my SEP from a prior employer to purchase my first home (condo). Does the waiving of the 10% penalty apply to SEP Plans? Is SEP and IRA synonymous? Or is a SEP an employer-sponsored retirement plan, thus not eligible for the waiving of the penalty? The amount I cashed out was 1,500.00 (closed SEP account).

Thank you for your help.
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