My daughter and son-in-law purchased their first home this year. My daughter withdrew funds from her Roth IRA for part of the down payment.
I thought the rules were that you can withdraw all of your contributions, plus up to $10,000 of gain tax and penalty free toward a first time home purchase. I am reading an article that indicates you can only withdraw a total of $10,000. That doesn't make sense to me. I would think they mean all contributions plus up to $10,000 of gain. My daughter has had her Roth IRA for more than five years. She withdrew more than $10,000 but not more than contributions plus $10,000 gain.
Can someone please confirm.