You can also use this exception to help a child, grandchild, or parent with their first home purchase . Tax and Penalty Breakdown
If you are older than 59½, you can withdraw any amount for any reason without penalty, though you still owe income tax . Understanding the First-Time Homebuyer Exemption can i use my traditional ira to buy a house
If you are under age 59½, the IRS allows you to withdraw up to penalty-free from a traditional IRA for a "first-time" home purchase . You can also use this exception to help
This $10,000 exception is a lifetime cap per individual . Married couples can each withdraw $10,000 for a total of $20,000 . 000 for a total of $20