Peter opened his IRA in 2003 and withdrew money to purchase a house in 2014. Since the distribution qualified as a "qualified first-time-homebuyer expenses," it is not subject to the 10% early withdrawal penalty.

Name: Peter opened his IRA in 2003 and withdrew money to purchase a house in 2014. Since the distribution qualified as a "qualified first-time-homebuyer expenses," it is not subject to the 10% early withdrawal penalty.
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Peter Opened His IRA in 2003 and Withdrew Money to Purchase