TP, under 59 1/2, w/d $100K from IRA and used $10K to pay for closing costs on purchase of home after divorce. While married, TP was jointly liable on the principal residence mortgage with spouse, but was not on title. Residence was purchased by TP's spouse prior to their marriage, and refinanced during the marriage when TP was added to the new loan. Does TP qualify as a first-time home buyer for 10% penalty exception?
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First-time buyer exception to 10% IRA WD penalty
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