Does the exclusion of up to 10K lifetime apply at any time in the life of your first home?
In other words, if I take out money to do some major repairs on my first, only home that I purchased 20 years ago, am I still allowed to use the exclusion to avoid the 10% penalty?
No, it's for purchase only.
Ah... so "for first time purchase or rebuild..." means all at the same time then.
That's different :-)
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