Does a Roth IRA qualify for the $8000 homebuyer tax credit?
Does any one know if one is eligible for the tax credit if you buy a home within your Roth IRA?
Does any one know if one is eligible for the tax credit if you buy a home within your Roth IRA?
Permalink Submitted by Alan Spross on Wed, 2010-02-24 23:42
This is not possible. The homebuyer credit is for owner occupied homes, while holding your own home in an IRA is a prohibited transaction and will result in a taxable distribution of the IRA.
Permalink Submitted by Justin Farris on Sat, 2010-02-27 19:24
Thanks for the info! I guess it was wishful thinking on my part.