Hi All -
OP took out $2100 to buy his first home, from his Roth IRA. Assuming he's under the age where that would avoid a possible penalty, and assuming he qualifies for the first-time home-buyer exemption, how does that get reflected on his tax returns (if at all)?
Thanks.
If the 1099-R shows an early distribution (Code 1) then he uses Form
5329 Part I to account for the exception to the penalty. First time homebuyer exception code is 09.BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.