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.Have something to add? Share your thoughts — no account required.
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