The show is a smart mix of humor and social commentary, and has had a diverse lineup of guest stars, including Colin Hay of Men at Work, Brendan Fraser, Dick Van Dyke and, in one of his...read more.
Traditional IRA distributions are taxable and, unless you're 59 1/2 years old, subject to an extra 10 percent tax penalty. However, if you qualify as a first-time home buyer, you avoid the additional tax, but not regular income taxes, on your distribution. For example, assume you're not yet 59 1/2 years old, that you pay a 25 percent tax rate and that you take a $10,000 distribution for your first home.
Distributions made from a Roth IRA that are tax and penalty free. a) The Roth IRA holder must be at least age 59.5 when the distribution occurs. home for the Roth IRA holder or a qualified family member. c) The distribution occurs after the Roth IRA holder becomes disabled.