You may know that if you are a first time homebuyer, you can get an exclusion from early withdrawal penalties up to $10000 if you withdraw the money from an IRA. However this doesn’t work with a 401K or any other qualified retirement plan. If you can roll the qualified plan money into an IRA, then take the money for the house down payment, that would work.
Any questions? Call me at 818-317-6035 or email me at bstonercpa@sncglobal.net 
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