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Dear Tax Gurus: Thank you for the info on Higher Education expenses. However, on the pathway to enlightenment and finacial bliss, another road leads me to help my kids with their first home. To avoid the 10% additinal tax on early withdrawals, I understand that I can take a distribution up to 10K$. Is this per kid? If not, could I pay it back to my IRA (the oldest will hopefully repay me) and then give the other kid the 10K$? Can a "first home" be a mobile home, RV, or houseboat? Thank you in advance for your help.
Dr. Merlot
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