Penalty Free IRA distributions
Can a person, under 59.5yrs, take funds ($10k) out of her IRA penalty free to fund her adult child’s first time home purchase?
Can a person, under 59.5yrs, take funds ($10k) out of her IRA penalty free to fund her adult child’s first time home purchase?
Permalink Submitted by Alan - IRA critic on Thu, 2013-11-07 20:48
Yes. the exception also includes grandchildren and parents, or children or grandchildren of your spouse that are not your own.