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Ask The Expert: Withdrawals

Q:
Asked by Na-anthony 8/7/12

Can I use a ROTH IRA to purchase a second home? We do not use the first home in another state.

Matthew Malone A:
Answered by Matthew Malone 8/9/12
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262 out of 262 people found this useful.

Hello,

Afraid not. You can only use the “first home” exemption if you haven’t had ownership interest in another home for at least two years.

Regards, Matt Malone, managing editor, RothIRA.com

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