|IRA Flexibility |
withdraw up to $10,000 from a traditional or Roth IRA to buy a first home. You
won't be charged the 10% additional tax on early withdrawal if you use the money
within 120 days to pay qualified acquisition costs for the purchase of a first
home. To qualify, the purchase may be for you or your spouse, or either one's
children, grandchildren, parents or grandparents.
You can also withdraw
funds from a traditional IRA for certain educational expenses, without the 10%
early withdrawal tax. You won't be charged the 10% additional tax on early withdrawal
if the amount does not exceed the qualified higher education expenses for you
or your spouse or either one's children or grandchildren.