USA Traditional IRA for home purchase

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Hi. I'm buying a house, primary residence, and would like to withdraw the max 10k to avoid the penalty. I'm not a first time buyer but I haven't owned a home in about ten years. What is the definition of first time buyer? Also, if I take the money out and it's getting close to 120 days without a closing, can I add that money back into a traditional IRA to avoid the penalty?
 
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Thank you. The question is more about whether the irs will penalize me 10% if I return the money or open a different traditional IRA with the money prior to the end of the 120 days.
 

kirby

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This source says no penalty

Also, IRS states this - see bottom of IRS pub 590B page 24 left column

But still verify in writing with your IRA provider that they can do this correctly, just to be safe.
 
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