>My wife and I are very close to buying our first-time home (a house), and >>I
>>just found some materials that supposedly one can withdrawal up to $10K >>from
>>their IRA without being penalized 10%, however we would still be taxed on
>>this amount. Is this still true?
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> If the IRA had no nondeductible contributons, you haveit correct. > >
My wife never took any money from the 401k, and directly rolled it over to the IRA. I assume that she had no "nondeductible" contributions.
Thank you.