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Does owning a mobile home disqualify me for the first time homebuyer withdrawal? I owned a mobile home, but I withdrew from my IRA to purchase property and a new mobile home with a foundation. Will I still qualify for the penalty free withdrawal?
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No. of Recommendations: 2
Does owning a mobile home disqualify me for the first time homebuyer withdrawal? I owned a mobile home, but I withdrew from my IRA to purchase property and a new mobile home with a foundation. Will I still qualify for the penalty free withdrawal?

Instinct tells me you won't qualify, but I don't find anything clearly answering this one way or the other in IRS Publications or the regulations. You may want to seek advice from an accountant who can do more research before you buy.

Phil Marti
VITA Volunteer
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