Skip to main content
Level 5
May 2, 2024
Question

First-Time Homebuyer Exception for IRA Distirbution

  • May 2, 2024
  • 1 reply
  • 6 views

I understand that if a taxpayer hasn't owned a primary residence for two years or if the taxpayers is buying a primary residence for the first time, there is an exception to the 10% penalty on early IRA distributions.

How does ProSeries handle this exception? Is there a checkbox / location to claim this exception within he software?

This topic has been closed for replies.

1 reply

Skylane
Intuit Community Champion
May 2, 2024

See form 5329 and instructions

If at first you don’t succeed…..find a workaround