78ab4cd4_10__Penalty___IRA_Distribution__ection_72_t__penalty_exemption
[Major restrictions] - Applies only to IRA distributions. – Distribution must be used within 120 days to pay qualified acquisition costs. – Lifetime limit of $10,000. – Does not apply if participant qualifies for another exemption.
Distribution for the first-time purchase of a principal residence by the participant or spouse, or their child or grandchild.
Exceptions to the 10% Penalty | IRA Distribution
IRC section 72(t) penalty exemption