I understand there is an exemption from premature withdrawl of 401K monies if used in acquiring a first residence. Does it work for a RV/ Motorhome? It will be our primary residence. Thanks in advance for advice and experiences.-Jitney
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You are mistaken. The exception to the early withdrawal penalty on $10,000 for the purchase of your first home relates to IRA distributions, not 401(k) distributions. For a list of exceptions to the penalty for 401(k) distributions, see IRS Pub 575. For IRA exceptions, see Pub 590.
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